Walmart to partner with Klarna on buy now pay later
by March 18, 2025 9:58 am 334 views
Walmart will part ways with buy-now-pay-later provider Affirm by the end of this year, and Swedish-based fintech Klarna will be the exclusive provider to the retailer’s customers for deferred payment loans.
Klarna will provide loans to Walmart customers in stores and online through the retailer’s majority-owned finch OnePay.
The retailer said OnePay will handle the user experience via the app, while Klarna will make the underwriting decisions for loans ranging from three months to 36 months, with annual interest rates ranging from 10% to 36%.
The new product will be launched in the coming weeks. This partnership comes as Klarna announced plans to go public in the U.S. The OnePay deal is a “game changer” for Klarna, said Sebastian Siemiatkowski, CEO of Klarna.
“Millions of people in the U.S. shop at Walmart every day — and now they can shop smarter with OnePay installment loans powered by Klarna,” he said. “We look forward to helping redefine checkout at the world’s largest retailer, both online and in stores.”
Walmart will receive warrants to acquire up to 15 million shares in Klarna once it becomes public at a strike price of $34.