Walmart's membership program set to launch in July

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.

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Walmart, whose shares rose nearly 4% after the news, declined to comment on the report.