Wal-Mart Enters The Money Transfer Business, Challenging Traditional Services And Catching A Partner Off Guard

Just days after news that retail giant Wal-Mart-Stores Inc. (NYSE:WMT) unveiled plans to expand into the organinc food business the company late Thursday said it's also adding a new financial service, launching what it calls Walmart-2-Walmart, a new service that will allow US customers to transfer money to each other and will directly compete with industry leaders, including a current partner.