Walmart and MoneyGram International are coming together on a new international money transfer service called Walmart2World that will debut later this month at the retailer's U.S. locations, according to a press release. 

"We think sending money should cost the same regardless of where you send it; that's why we've designed a brand new global wire service to send money to 200 countries with a consistently low fee," Kirsty Ward, vice president of Walmart Services, said in a release. "There are millions of people sending money around the world to help loved ones with everyday needs or in times of emergency. Walmart2World, Powered by Moneygram helps customers get money to family and friends across the world in minutes, and the new low fees mean more of their hard-earned cash goes where it’s needed most."

Walmart said the service will have three unique aspects that are intended to make it different from competitors:

• Unique pricing structure: Fees will remain the same no matter where the money is being sent from in the U.S.: $4 to send up to $50, $8 to send $51 to $1,000, and $16 to send $1,001 to $2,500. Walmart claims this is unlike other international transfer services that change the fee to transfer money based on where sender and/or receiver are located.
• Highly competitive exchange rates: Walmart said it is committed to ensuring customers receive a more competitive foreign exchange rate when transferring money using Walmart2World. The new Walmart2World low fees, combined with these great exchange rates deliver incredible value for international sends.
• Delivery within minutes to worldwide network: Walmart2World will deliver funds in 10 minutes or less, whether the receiver opts to pick up the money at any one of MoneyGram's agent locations in 200 countries, or an international bank or mobile wallet account.