Walmart’s majority-owned fintech startup OnePay is launching a pair of new credit cards for customers of the world’s biggest retailer. The company is partnering with Synchrony, a major player in retail cards, to issue the cards and handle underwriting decisions starting this fall.
OnePay will handle customer experience through its mobile app, while Synchrony will provide the physical cards and handle loan decisions. This partnership marks a significant step for OnePay as it expands its financial services offerings.
Walmart previously relied on Capital One for credit card services but ended their exclusive agreement in 2023 to partner with OnePay instead. The new credit cards will offer two options: a general-purpose card that can be used anywhere Mastercard is accepted and a store card specifically for Walmart purchases.
The move highlights OnePay’s strategy of partnering with established players to quickly scale up its financial services offerings, rather than going it alone. This marks the latest expansion of OnePay’s services, which now include debit cards, high-yield savings accounts, and digital wallets with peer-to-peer payments.
Source: https://www.cnbc.com/2025/06/09/walmart-onepay-synchrony-credit-cards-capital-one.html