The new prepaid card, offered by Walmart, is aimed at unbanked or underbanked consumers.

Walmart advanced further into the financial services arena last week with a new product  it will offer in conjunction with American Express.

Dubbed Bluebird, the prepaid card will provide consumers concerned with the rising costs of financial services with a checking and debit alternative, according to executives with both companies, which rolled out the new card on Oct. 9.

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