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Walmart files trademark for its fintech venture's name

Walmart had in January announced that it is creating a fintech company with venture capital firm Ribbit Capital.

April 08, 2021 / 08:57 AM IST
Potential services mentioned in the trademark filing include credit and debit card transaction processing, mobile payments, and

Potential services mentioned in the trademark filing include credit and debit card transaction processing, mobile payments, and "virtual currency transaction processing services" (Image Source: Shutterstock)

Walmart has filed for a trademark of the name and logo of its financial technology venture, which also gives some hints about what services the company will provide.

The retail giant filed an application with the US Patent and Trademark Office on March 29, according to which the fintech company could be named "Hazel by Walmart", Bloomberg reported.

The filing is yet to approved, and is "awaiting examination," according to the patent and trademark office

The company's list of services mentioned in the application include issuing credit cards, credit-repair, financial-portfolio analysis and consulting, the news website reported.

Moneycontrol could not independently verify the story.

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A Walmart spokesperson declined to comment when contacted by Bloomberg.

Other potential services mentioned in the trademark filing include credit and debit card transaction processing, mobile payments, and "virtual currency transaction processing services", the report said.

The logo, is black, where the "a" in Hazel is a greater-than sign rotated counterclockwise, with "by Walmart" in small type underneath the name.

Walmart had in January announced that it is creating a fintech company with venture capital firm Ribbit Capital. The retailer will own the majority of the company.

The companies said the startup "will bring together Walmart's retail knowledge and scale with Ribbit's fintech expertise to deliver tech-driven financial experiences tailored to Walmart's customers and associates."

After the announcement, Walmart has poached two senior Goldman Sachs bankers to take charge of the startup, Bloomberg reported.
Moneycontrol News
first published: Apr 8, 2021 08:57 am

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