Walmart’s fintech unit, OnePay, is set to introduce credit cards as part of its expanding range of financial services. The credit card program is expected to launch this fall, integrated within the OnePay app and supported by Mastercard’s global payments network. The card, issued by Synchrony, will be available to millions of Walmart customers across the U.S.
Currently, OnePay serves millions of customers nationwide with a variety of banking, credit, and payment products, including cashback debit, high-yield savings, installment loans, a digital wallet, and both domestic and international peer-to-peer payments.
Through partnerships with Synchrony and Mastercard, OnePay will enhance its offerings by introducing both a general-purpose credit card and a private label card exclusive for Walmart purchases.
John David Rainey, Walmart’s EVP and chief financial officer, stated, “Today’s announcement represents one more way we’re serving our customers the way they want to be served, providing an upgraded digital financial services experience with even greater choice and value.”