May 21, 2021
Walmart Inc.’s financial technology venture now has a possible name.
Walmart recently filed for a trademark for the name “Hazel by Walmart”, and the application gave an indication as to the services the startup might provide. In the application, the venture listed potential financial services it was interested in offering, including issuing credit cards, mobile banking, offering credit-repair services, consulting, financial-portfolio analysis and “virtual currency transaction processing”.
Earlier this year, Walmart unveiled the fintech venture, along with a partnership with Ribbit Capital, which is a known investor in Robinhood, the stock-trading platform. Walmart has since employed senior Goldman Sachs bankers to lead the startup.
The trademark application is currently "awaiting examination", according to the U.S. Patent and Trademark Office.
Authors: Shannon Skillings and Scott Kerr