Recently Wal-Mart announced
that they would be offering banking services
to their customers.
Why?
Because there is a market
and its lucrative.
Ed Kountz of Jupiter Research
points out that approximately 1 in 4 Americans
don’t have a traditional banking relationship.
These individuals
pay more for transactions
such as money transfers.
The number is higher in areas
with low to moderate income.
Exactly Wal-Mart’s target market.