Wal-Mart adds to mobile wallet frenzy with 'Walmart Pay'

Wal-Mart Stores Inc launched its own mobile payment service Walmart Pay on Thursday, potentially dealing a sharp blow to the ambitions of a mobile wallet the company had been co-developing with a consortium of retailers. The mobile payments space in the U.S. has seen a flurry of new launches and partnerships in the past year but has failed to gain traction as customer and merchant adoption have been sluggish. CurrentC - whose developers included Wal-Mart, Target Corp and Best Buy Co Inc among ot