(Reuters) – Walmart Inc is close to launching its membership program, a direct competitor for online retail giant Amazon.com Inc’s Prime service, Recode reported on Tuesday, citing sources.
The company plans to launch the subscription service, called Walmart+, later this month and it will cost $98 a year, according to the report.
The membership program will include features like same-day delivery of groceries and other merchandise, discounts on fuel at the retailer’s gas stations, and early access to product deals, Recode said.
Walmart, whose shares rose nearly 4% after the news, declined to comment on the report.
(Reporting by Nivedita Balu in Bengaluru; Editing by Aditya Soni)
