Klarna & OnePay bring installment loans to Walmart shoppers in the US

By Gloria Methri

Klarna has partnered with OnePay to exclusively offer installment loans for purchases at Walmart in the United States. The partnership will give Walmart’s U.S. customers and members flexible payment options for items bought online and in stores — and will be directly integrated at checkout this year.

OnePay, the consumer FinTech backed by Walmart and Ribbit Capital, is integrated into Walmart’s physical and digital channels and is available to consumers everywhere. It serves as a one-stop shop consumer financial services platform for millions of people in the U.S., and in partnering with Klarna, it will add installment loans to its portfolio of banking, credit, and payments products.

“This is a game changer,” said Sebastian Siemiatkowski, Co-founder and 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. OnePay choosing Klarna as their exclusive installment loans partner at Walmart in the U.S. 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 U.S. customers will be able to use OnePay installment loans powered by Klarna to shop for thousands of items, including electronics, home and garden, automotive, and more. Once approved, customers will be able to choose from a range of repayment terms, from 3 to 36 months, and manage their loan experience in the OnePay app.

“It has 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,” said Omer Ismail, CEO, OnePay. “We are incredibly excited to partner with Klarna to give consumers easier and more seamless ways to shop with OnePay at Walmart.”