Wal-Mart shoppers can now make online purchases

The world's largest retailer on Thursday said shoppers at Walmart.com would be able to make purchases and pay with cash at all of its 3,800 US stores. According to the retailer, it is the first major retailer to offer shoppers the opportunity to purchase online without a bank account, or credit, debit or prepaid card.

Wal-Mart Stores Inc is trying to be friendlier to customers who don't have access to those financial services, and rightly so, say analysts as only around 15 per cent of Wal-Mart's transactions are paid using a credit card.

The Bentonville, Arkansas-based company said the initiative was well received when it tested it in a few stores in various parts of the country over the past six weeks.

According to Joel Anderson, president and CEO of Walmart.com, the company was going to touch a segment of the American public who had not been able to participate online without going through a lot of hoops.

The transaction involves customers going to the website to select the item and place an order. They select the ''cash'' option during check out and their shipping preference. The shopper can in 48 hours take the printed order confirmation to the cash register at a Wal-Mart store and when the order is paid, the customers can either arrange to have the items shipped to a store for free or to another address for a fee.

Analysts say the concept was quite simple in a world sold on futuristic stuff, like waving your mobile phone to pay for things and digital wallets.