Study Shows Service Can Save Families More Than $100 Million This Year

BENTONVILLE, AR -- (Marketwire) -- 08/25/09 -- Paying bills just got a little easier for Americans who are looking for ways to save time and money. Walmart MoneyCenters and customer service desks located in Walmart (NYSE: WMT) stores nationwide, now offer a bill-paying service that will allow customers to pay utility, landline phone, cable/satellite, credit card bills, auto and wireless phone at their local Walmart store. A new study shows the service will cut customers' costs in half and could save families more than $100 million in bill-pay fees this year.*

The new service provides convenient, affordable options to the growing number of financially underserved Americans who do not use traditional checking accounts to pay bills in person. According to research commissioned by Walmart, more than 21 million households pay at least one bill in person every month.

"More and more Americans are looking for ways to save money on financial transactions and enjoy the convenience and confidence of knowing their bills are paid on time," said Jane Thompson, president Walmart Financial Services. "We're introducing Walk-in Bill Pay nationwide to provide another affordable money service option that will help families manage their monthly budgets so that they can save money and live better in these tough economic times."

Study Paints Picture of Americans' Pressing Financial Needs

To gain a better understanding of the money management challenges many families face today, Walmart commissioned Aite Group to conduct a study of financially underserved individuals across the country. The study shows paying bills in-person remains mainstream among a large segment of Americans who make less than $45,000 in annual income per year. Often, these consumers utilize third-party walk-in bill payers to pay their basic household bills.

"Customers choose to pay in-person for practical reasons such as getting a printed receipt to confirm payment, paying with cash, holding on to their money longer and paying bills closer to the due date," said Gwenn Bezard, research director, Aite Group.