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BENTONVILLE, Ark. -- Wal-Mart Stores Inc. here will launch a store-branded prepaid card, the Financial Times reported online earlier today.
The chain will call the card the Wal-Mart MoneyCard, and will aim it at its core low-income customers as a way to provide low-cost banking services such as check cashing and money transfers.
Wal-Mart will work with GE Money, a division of the General Electric Co., on the program, the Financial Times reported.