Klarna’s CEO has described the firm’s newly agreed partnership with Walmart as “a game changer”.
In collaboration with OnePay, Klarna will exclusively offer installment loans for purchase at Walmart stores across the US. Customers will be able to make buy now, pay later (BNPL) payments at both physical and online checkouts.
OnePay is already integrated into Walmart’s physical and digital channels, offering financial services to its customers and 1.6 million US-based associates, in addition to being available to consumers across the country.
Klarna will work alongside OnePay to integrate BNPL solutions at Walmart and will add installment loans to its growing 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 US 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 US 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.”
When Walmart customers come to the checkout, they will be offered the option to use OnePay installment loans backed by Klarna. Once approved, customers can choose the repayments terms, ranging from three to 36 months.
“It’s 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’re incredibly excited to partner with Klarna to give consumers easier and more seamless ways to shop with OnePay at Walmart.”
