Walmart is taking on Apple by launching its own payment service

Walmart is launching Walmart Pay, a competitor to Apple Pay and Samsung Pay that allows users to more easily check-out items paying for them wirelessly with a QR code, according to Walmart.

Walmart has repeatedly rejected installing Apple Pay-compatible tills, choosing instead to launch its own payment system.

TechCrunch explains that to pay with Walmart Pay, a user must open the Walmart app, select “Walmart Pay,” scan a QR code displayed on the checkout terminal, and then wait for an employee to continue scanning items. Apple Pay, in contrast, opens automatically on an iPhone and requires a fingerprint to authorise the payment.

Walmart has over 140 million customers who shop weekly, according to the company’s CEO of global e-commerce Neil Ashe. “Walmart Pay is the latest example of how we are transforming the shopping experience by seamlessly connecting online, mobile and stores,” he said in a press release.

Walmart has also been working on another payment solution, named Current C, that is set to launch sometime next year. The product has been criticised for how hard it is to use.

NOW WATCH: Here’s how to find out your Uber rating

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at