Klarna Secures Exclusive Walmart Partnership, Replacing Affirm for Installment Loans

The Swedish fintech will integrate its buy now, pay later services into Walmart's OnePay app, ending Affirm's six-year relationship with the retail giant.

Klarna and Walmart's OnePay have announced an exclusive partnership to provide installment loans for Walmart customers in stores and online.
The new service will allow shoppers to choose repayment terms ranging from 3 to 36 months, with annual interest rates between 10% and 36%.
Affirm, which had been Walmart's exclusive installment loan provider since 2019, will no longer offer its services at the retailer.
The partnership comes as Klarna prepares for its highly anticipated U.S. IPO, aiming to raise over $1 billion with a valuation exceeding $15 billion.
Walmart's OnePay app, which already offers various financial services, is expected to expand its user base and revenue through this collaboration with Klarna.

CNBC

Benzinga

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