In a bold move that reshapes its financial services strategy, Walmart is replacing its former credit card partnership with Capital One by introducing a new programme powered by its own fintech firm, One. The retail giant’s majority-owned startup will oversee a fresh suite of credit cards, marking a new chapter in how Walmart engages with its loyal customer base.
Set to roll out this autumn, the cards will be issued by Synchrony, a major player in retail credit, while OnePay—created in 2021 through a joint venture with Ribbit Capital—will manage the user experience entirely through its mobile platform.
This decision signals Walmart’s ambition to do more than dominate store shelves. By bringing its financial operations closer to home, Walmart can deliver a streamlined, personalised credit experience, tailored to shopper behaviour and spending habits. The cards are expected to integrate smoothly into the retailer’s digital ecosystem, enhancing rewards, customer retention, and convenience.
ISN’s view: Walmart’s decision to part ways with Capital One and turn inward shows strategic foresight. Consumers and cardholders alike stand to benefit from a system built by Walmart, for Walmart shoppers. This is more than a card—it’s a financial ecosystem embedded in the nation’s largest retailer.
With fintech evolving rapidly, Walmart is proving it’s not just adapting—it’s leading.