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Walmart shares its crypto approach, predicts disruption in payment options

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SNEAK PEEK

  • Walmart’s global CTO has discussed in length the role and impact of crypto in its future.
  • Walmart had earlier indicated the possibility of creating digital tokens, currencies and NFTs in the metaverse in the coming future.
  • According to rumors, the retail giant is working on launching crypto payment support; however, nothing beyond false alarms happened.

Suresh Kumar, Global Chief Technology Officer and Chief Development Officer of Walmart, has disclosed the role of crypto in its future. The executive shared that crypto is going to be a crucial part of the way customers interact. 

Talking about crypto’s role in the future of Walmart, he said that according to him, there are three key areas in terms of disruption and crypto lies in the middle of it. He also shared about already discussing the way customers are being inspired and exploring products. 

Continuing, he said that a part of it will take place in the metaverse and another part will happen on live streams, inside the social media application. Be it virtual goods or physical goods, crypto has a significant role in terms of the needs of the customer.  

He further shared, they wish to make crypto as friction free as possible to allow customers to transact, purchase and derive its value. 

Additionally, he said:

And that is where I think a lot of the disruption is going to start happening in terms of different payment methods, different payment options. 

Crypto will continue having a crucial role in  it. Walmart strives to be available everywhere its customers expect it to be.  

Coming to how the products are discovered and delivered, he mentioned, while talking exclusively about crypto, it is all about finding products no matter if it is virtual or physical inside, upfront or metaverse and how people transact.

In 2021, Walmart filed a number of  trademark applications based on metaverse, cryptocurrency and NFTs. It stepped into the metaverse last month when it launched Universe of Play and  Walmart Land on Roblox.

In the same month, Walmart announced the sale of NFT-linked comic books via Funko.

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