(Reuters) - Wal-Mart Stores Inc (>> Wal-Mart Stores, Inc.) said on Thursday it was launching a new domestic money transfer service called "Walmart-2-Walmart" in partnership with Euronet Worldwide Inc (>> Euronet Worldwide, Inc.) subsidiary Ria Money Transfer, competing directly with Western Union Co (>> The Western Union Company).
(Reuters) - Wal-Mart Stores Inc (>> Wal-Mart Stores, Inc.) said on Thursday it was launching a new domestic money transfer service called "Walmart-2-Walmart" in partnership with Euronet Worldwide Inc (>> Euronet Worldwide, Inc.) subsidiary Ria Money Transfer, competing directly with Western Union Co (>> The Western Union Company).
The service, to be launched on April 24, will let customers transfer money to and from more than 4,000 U.S. Walmart stores at what it says are lower fees than other such services.
Western Union shares were down 4.6 percent in premarket trading.
Euronet Worldwide, Inc. is a global financial technology solutions and payments provider. The Company operates through three segments. Its Electronic Funds Transfer (EFT) segment meets the needs of financial institutions and consumers through Euronet-owned and outsourced ATMs and POS terminals combined with value-added and transaction processing services. EFT offers a suite of integrated electronic financial transaction software solutions for electronic payment and transaction delivery systems. Its epay segment provides retail payment solutions and delivers connections between the digital content of the brands and consumers. Its Money Transfer segment provides global money transfers and currency exchange information in retail stores, apps, and websites through Ria Money Transfer, Xe and the Dandelion cross-border real-time payments network. Its Money Transfer segment offers real-time, cross-border payments to consumers and businesses across over 198 countries and territories.
EURONET WORLDWIDE, INC. 
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