Walmart, the world’s largest retailer, announced on Monday that it is launching a financial technology (fintech) startup in partnership with Palo Alto, California based venture capital firm Ribbit Capital, a backer of Robinhood, Credit Karma and Affirm. The new fintech company, which will be majority-owned by Walmart, aims to “develop and offer modern, innovative and affordable financial solutions” targeting Walmart’s customers and employees. Yahoo Finance’s Jared Blikre discuses.
