Walmart Plans to Threaten Amazon Prime's Dominance With New Membership

Walmart (NYSE: WMT) is planning to challenge Amazon (NASDAQ: AMZN) with its own paid membership model that would compete with Amazon Prime, Vox reported Thursday. The company will introduce it as early as March.

Walmart plans to differentiate the membership model by including certain perks that Amazon cannot offer. The model is called Walmart+, a spokeswoman confirmed to CNBC.

Public testing of the paid membership model may start in March and is widely believed to replace Walmart's Delivery Unlimited service, which charges $98 per year for unlimited, same-day delivery of groceries. Pricing of Walmart+ remains unknown, but it should compete closely with Amazon Prime's cost of $119 per year.

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Source Fool.com