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The financial services sector is not the only industry focused on FinTech deals. A range of non-financial
firms, from retailers to exchanges, now offer embedded financial products that seek to add value to
consumers and to leverage valuable consumer data that they may have collected through other channels.
Walmart, for example, has a partnership with PayNearMe, a payments firm, to enable shoppers to pay
utility bills through in-store cash payments. Walmart has also partnered with Western Union to allow
consumers to transfer money at Walmart locations, and has formed a FinTech startup with Ribbit Capital to
bring, according to a press release, "Walmart's retail knowledge and scale with Ribbit's FinTech expertise
to deliver tech-driven financial experiences tailored to Walmart's customers and associates." Some FinTech
firms have niche specialties targeting individual industries, such as medical services or sports. For example,
Cardless, a consumer credit card FinTech, offers co-branded credit card programs with individual sports
franchises, such as the Cleveland Cavaliers.
NON-FINANCIAL FIRMS
