Walmart may ditch Affirm partnership to launch BNPL product via fintech venture
The news: Walmart reportedly plans to offer buy now, pay later (BNPL) through its majority-owned fintech venture, ONE, people familiar with the matter told The Information.
Zooming out: The BNPL product will join Walmart's other payments products, like Walmart Pay—the retailer's proprietary mobile wallet.
It's not the company's first venture into BNPL, either:
- Walmart already offers BNPL to select customers in Canada through a partnership with Duo Bank of Canada.
- It also lets customers check out using BNPL through a partnership with Affirm.
It's unclear how the new BNPL product from ONE will affect either of these.
Read the original article on Business Insider