NEW YORK (AP) — Walmart confirms that it's developing a competitor to Amazon's juggernaut Prime membership program.

The company declined on Thursday to offer details, but a spokeswoman said it will be called Walmart+.

News website Vox first reported the news about Walmart's new membership program. It said the discounter would have certain perks that the online leader couldn't offer.

The initiative comes as Walmart is locked in an arms race with Amazon to bring packages faster to customers' homes.

Amazon's Prime program costs $119 per year and includes perks like unlimited next-day shipping on more than 10 million items and free streaming of music, TV shows and movies.