Wal-Mart has given up its hopes of opening an industrial bank in Utah. But it is finding other ways to provide financial services, to the chagrin of many banks. Its latest effort is the Wal-Mart MoneyCard, a prepaid card product that will be aimed at lower income customers. It will be launched with GE Money under the Visa brand. An official announcement is expected in a month or so. The card will be similar to other Visa Prepaid cards. People can have their weekly wages credited to the card and use it at many stores. This is a way to cross-sell customers on other services, which now include check-cashing and the like.  

For more:
- here's a Financial Times article