Walmart’s Strategic Expansion into Fintech with ‘One’ Challenges 

Walmart has launched a new buy now, pay later (BNPL) called One, marking a bold step into a market traditionally dominated by banks and established fintech companies.

The Rollout of BNPL Services

In April 2024, Walmart’s fintech division One introduced its BNPL service in selected U.S. stores. This service lets customers buy expensive items like electronics and furniture and pay for them later. It’s available in over 4,600 Walmart locations, posing a direct challenge to Affirm, who has been Walmart’s BNPL partner since 2019.

Competitive Landscape and Market Dynamics

The launch of the BNPL service signals a key development in Walmart’s business strategy. The retailer is broadening its influence beyond traditional retail to become an influential player in financial services by competing against both established banks and other topnotch fintech firms.

Walmart is growing its reach not just as a giant but also as a key player in financial services sector. This strategic shift aims to transform Walmart into a ‘super app,’ merging retail with financial offerings, similar to what other tech giants like Amazon have done.

This initiative to introduce Buy Now, Pay Later (BNPL services aligns with changes in the consumer credit industry, where more customers are choosing flexible payment options due to economic challenges like inflation and high interest rates. The BNPL model is becoming popular because it offers an easy alternative to traditional credit, helping people manage their money better during unstable times.

  • Eligibility and Offer Details: Purchases ranging from $100 to $3,000 qualify for the BNPL plan, with interest rates between 10% and 36%, depending on your credit score.
  • Exclusions: BNPL plans do not apply to daily essentials such as groceries, alcohol, and firearms.

Implications for Existing Partnerships

Entering the BNPL market could disrupt current partnerships and change the competitive setting in financial services. With its own BNPL service, Walmart might depend less on third party providers like Affirm and Capital One, which previously managed instalment payments for its customers.

Experts in the industry believe this step could merge services under the Walmart name, allowing a smooth financial service experience directly through Walmart’s online and instore platforms. This integration could build stronger customer loyalty and enable Walmart to collect important consumer data for future marketing and sales strategies.

Fintech and the Future of Retail

Walmart’s launch of BNPL services underlines a trend where major retailers extend their influence in both physical stores and ecommerce by incorporating financial technologies such as BNPL solutions. This strategic move shows their ambition to meet evolving consumer needs while securing a larger market share.

Companies are increasingly exploring fintech to build expansive ecosystems. This approach helps keep customers by providing various services, from shopping to managing finances.

Supported by Ribbit Capital and drawing on knowledge from major financial institutions like Goldman Sachs, is in a strong position to influence the fintech sector significantly. This development could lead Walmart to add more combined services such as insurance and investment offerings along with sophisticated personal finance tools.

As Walmart grows its presence in the fintech market, the effects on traditional banks and new fintech companies could be significant, likely establishing new models for combining retail with financial services.


Walmart’s move into BNPL (Buy Now, Pay Later) services via One highlights their dedication to Walmart using its large size and many customers to provide both products and creative financial solutions. This shift improves how attractive Walmart is to its customers and sets it up as a strong participant in the quickly changing fintech field.