Walmart's OnePay partners Synchrony for credit card programme
Walmart-backed consumer fintech firm OnePay has joined forces with Synchrony to exclusively launch a new credit card programme for Walmart.
Scheduled for release in the upcoming fall, the programme will be accessible through the OnePay app and supported by Mastercard's payment network, targeting Walmart's US customers.
This initiative, in partnership with Synchrony and Mastercard, will provide customers with a financial management tool, encompassing saving, spending, borrowing, and investing.
The programme will feature two types of cards - a general-purpose card accepted wherever Mastercard is used, and a private label card exclusive to Walmart purchases.
Both cards will be integrated into the OnePay app, enabling access to OnePay's financial services.
OnePay CEO Omer Ismail said: "Our goal with this credit card programme is to deliver an experience for consumers that's transparent, rewarding, and easy to use. We're excited to be partnering with Synchrony to launch a programme at Walmart that checks each of those boxes and will help serve millions of people."
Synchrony CEO and president Brian Doubles stated: "We are proud to be selected by OnePay to further our mission of helping people live better and build healthier financial futures with Walmart. Together, we aim to drive even greater innovation and new credit experiences to better serve customers while driving long-term, high-quality growth."
This partnership signifies Walmart's return to Synchrony, which had previously issued Walmart-branded credit cards until 2018, before losing the contract to Capital One, as reported by Reuters.
Walmart's decision to part ways with Capital One in 2024 was influenced by operational concerns, including delayed transaction updates and the prolonged issuance of replacement cards.
In March, OnePay collaborated with Klarna to provide exclusive instalment loans to Walmart shoppers in the US.
"Walmart's OnePay partners Synchrony for credit card programme " was originally created and published by Electronic Payments International, a GlobalData owned brand.
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