Now we know why Walmart snubbed Apple Pay -- it's launching a competitor

Walmart is rolling out its own mobile payment system called Walmart Pay.

The system, like Apple Pay, allows customers to purchase items using their smartphones.

Walmart Pay works through the retailer’s mobile app.

Customers can pay for their items by opening the app, activating their phone cameras, and scanning a QR code at the checkout.

After the code has been scanned, the purchase has been paid for and the checkout is complete.

“We’re really working hard to create a seamless shopping experience at Walmart,” Neil Ashe, president and CEO of Walmart global ecommerce, told reporters on Wednesday.

Walmart Pay connects to a number of payment options, including credit cards, debit cards, pre-paid cards, and gift cards. Customers can register their payment options through the app or on Walmart.com.

Walmart is rolling out the new payment system after refusing to partner with Apple Pay. The retailer said it built Walmart Pay — instead of offering other options like Apple Pay — because it wants customers to have the freedom to use any brand of phone they want to make their purchases.

The technology will be rolled out at stores near Bentonville, Arkansas, where Walmart’s headquarters are located, on Thursday.

The retailer will expand it to test markets across the country after the holidays, and it will be rolled out nationwide within the first half of next year, executives said.

Roughly 22 million customers use Walmart’s app every month. The retailer said nearly half of customers’ orders from Thanksgiving through Cyber Monday were placed on a mobile device.

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