Klarna, the AI-powered payments and commerce network, is partnering with consumer finance app OnePay to offer instalment loans for purchases at Walmart in the US.
Following the Klarna and OnePay collaboration, millions of weekly Walmart customers in the US will be able to access flexible payment options for items both online and in-store.
OnePay, the consumer fintech backed by Walmart and Ribbit Capital, is already integrated inside Walmart’s physical and digital channels, offering financial services to its millions of customers and 1.6 million US associates. OnePay today serves as a one-stop shop consumer financial services platform for millions of people in the US — and in partnering with Klarna, will add instalment loans to its growing portfolio of banking, credit, and payments products.
“Millions of people in the US shop at Walmart every day — and now they can shop smarter with OnePay instalment loans powered by Klarna,” explained Sebastian Siemiatkowski, co-founder and CEO of Klarna. “OnePay choosing Klarna as their exclusive instalment loans partner at Walmart in the US is a huge vote of confidence as we pursue our goal of being available everywhere for everything. We look forward to helping redefine checkout at the world’s largest retailer — both online and in stores.”
Walmart US customers will be able to use OnePay instalment loans powered by Klarna to shop for thousands of items. Once approved, customers can choose from a range of repayment terms, from three to 36 months, and also have the ability to manage their loan experience in the OnePay app.
“It’s never been more important to give consumers simple and convenient ways to access fair credit at the point of sale — and that’s especially true for the millions of people who turn to Walmart every week for everything,” added Omer Ismail, CEO of OnePay. “We’re incredibly excited to partner with Klarna to give consumers easier and more seamless ways to shop with OnePay at Walmart.”
