{"id":45116,"date":"2021-04-08T03:29:18","date_gmt":"2021-04-08T03:29:18","guid":{"rendered":"https:\/\/qatar-news.org\/qatarnewsEn\/?p=45116"},"modified":"2021-04-08T03:29:18","modified_gmt":"2021-04-08T03:29:18","slug":"hazel-by-walmart-us-retailer-hints-at-fintech-unit-details","status":"publish","type":"post","link":"https:\/\/qatar-news.org\/qatarnewsEn\/?p=45116","title":{"rendered":"\u2018Hazel by Walmart\u2019: US retailer hints at fintech unit details"},"content":{"rendered":"<div id=\"\">\n<div class=\"breadcrumbs\">\n<div class=\"source-featured\"><img decoding=\"async\" class=\"source-featured-img\" height=\"15\" width=\"80.35714285714286\" src=\"http:\/\/www.aljazeera.com\/wp-content\/uploads\/2020\/09\/bloomberg-1-1.png?fit=600%2C112\" alt=\"Bloomberg\"><\/div>\n<\/div>\n<p class=\"article__subhead\">Walmart shook up the banking world earlier this year when it announced plans to set up a financial technology firm.<\/p>\n<\/div>\n<div readability=\"84\">\n<p>Walmart Inc.\u2019s financial technology venture, still shrouded in mystery, now has a possible name: Hazel by Walmart.<\/p>\n<p>The world\u2019s largest retailer filed for a trademark on the name on March 29, in the process giving clues as to what the startup might actually do. The application with the U.S. Patent and Trademark Office includes a slew of financial services that the startup could potentially offer, from issuing credit cards to offering credit-repair services. The list even includes financial-portfolio analysis and consulting, which suggests that Walmart may target wealthier customers along with its traditional lower-income clientele.<\/p>\n<p>A Walmart spokesperson declined to comment.<\/p>\n<p>The filing also displays a logo for \u201cHazel by Walmart,\u201d a black, stylized one where the \u201ca\u201d in Hazel is a greater-than sign rotated counterclockwise, with \u201cby Walmart\u201d in small type underneath the name.<\/p>\n<p>Walmart shook up the banking world earlier this year when it unveiled the fintech startup, a partnership with Ribbit Capital, an investor in stock-trading platform Robinhood. The companies said they would start an independent venture that \u201cwill bring together Walmart\u2019s retail knowledge and scale with Ribbit\u2019s fintech expertise to deliver tech-driven financial experiences tailored to Walmart\u2019s customers and associates,\u201d according to a statement.<\/p>\n<p>Since then, Walmart has poached a pair of senior Goldman Sachs bankers to help lead the startup, but has said nothing else about what it might do. At a February investor conference, Walmart Chief Executive Officer Doug McMillon would only say that customers \u201cwant more from us in terms of financial services and this new approach will help us deliver for them in a differentiated way more quickly.\u201d<\/p>\n<p>The filing\u2019s laundry list of potential services also include credit and debit card transaction processing, mobile payments, along with \u201cvirtual currency transaction processing services.\u201d The filing has not been approved and is \u201cawaiting examination,\u201d according to the patent and trademark office.<\/p>\n<p>Financial technology, or fintech, companies aim to give consumers ways to save, borrow and invest online or via phone without dealing with a traditional bank. Walmart will own a majority of the new venture, but hasn\u2019t provided more specific details.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Walmart shook up the banking world earlier this year when it announced plans to set up a financial technology firm.Walmart Inc.\u2019s financial technology venture, still shrouded in mystery, now has a possible name: Hazel by Walmart. The world\u2019s largest retailer filed for a trademark on the name on March 29, in the process giving clues&hellip;<\/p>\n","protected":false},"author":10,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-45116","post","type-post","status-publish","format-standard","hentry","category-spotlight_news"],"_links":{"self":[{"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/posts\/45116","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=45116"}],"version-history":[{"count":0,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/posts\/45116\/revisions"}],"wp:attachment":[{"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=45116"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=45116"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=45116"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}