Wal‐Mart's nontraditional banking business and corporate social responsibility

Abstract

Purpose

The purpose of this paper is to highlight how a multinational corporation can fulfill its corporate social responsibility while seeking profit by using Wal‐Mart's recent nontraditional banking services as an example.

Design/methodology/approach

A wide gamut of document reviews about migrant workers in the USA and global remittance businesses was used. Remittance cost changes were also tracked among major US remittance operators over the past two years.

Findings

Wal‐Mart's competitive business platform has lowered remittance costs in the USA since it launched the new remittance business two years ago.

Research limitations/implications

In spite of anecdotal evidence, this paper suggests how well‐established multinational business operations can be tools for economic justice across the globe.

Originality/value

This is one of the first reports on the impact of the retailer's nonbanking business on remittance cost and potential for promotion of economic justice for Hispanic/Latino migrants.

Citation

Yoon, I. and Chung, I. (2010), "Wal‐Mart's nontraditional banking business and corporate social responsibility", Social Responsibility Journal, Vol. 6 No. 4, pp. 551-561. https://doi.org/10.1108/17471111011083437