Walmart Sweepstakes Game

In Retailwire: With discussion.

Can Walmart’s sweepstakes game teach the unbanked to ‘bank’ their money? by Matthew Stern

In order to let the unbanked and underbanked portion of its customer base take part in things like online shopping, Walmart has launched programs that make the retailer look a bit like a bank itself. But with its Prize Savings program, Walmart has taken a step that banks have not — Walmart is incentivizing its customers to save.

Last year, Walmart introduced the Prize Savings program as part of its MoneyCard offering, as discussed in an article on Good. The program gives users the chance to win cash prizes in a monthly sweepstakes if they place money into the “Vault” portion of the MoneyCard pre-paid debit account. Since Walmart introduced the Prize Savings program, the number of customers keeping money in their Vaults has increased 130 percent to 100,000. ... "