OnePay, a New York City-based fintech, is partnering with Synchrony Financial to launch a credit card program for Walmart Inc. The program, which will debut in the fall, will offer a general-purpose Mastercard credit card and a private-label Walmart card.

Walmart expects the deal to provide a better customer experience when accessing financial services, the retailer says. Walmart is an investor in OnePay, along with Ribbit Capital.

Both cards, to be issued by Synchrony Financial, will be embedded in the OnePay app, which will also provide cardholders access to OnePay’s financial-services products, such as high-yield savings accounts, installment loans, and programs to help consumers build their credit history. The card program is focused on loyalty over the long term, the two companies say.

“Following the initial launch and reserve costs, the program is expected to drive loyalty and sales at attractive risk-adjusted returns and be accretive to the company’s long-term financial performance,” says Maran Nalluswami, executive vice president and chief strategy and business development officer at Synchrony, in email comments.

The deal marks a revival of Synchrony’s card-issuing relationship with Walmart. The prior connection between the two companies ended in 2018, when the retail giant awarded its card-issuing contract to Capital One Financial Corp. Walmart is reportedly ending its relationship with Capital One over delays updating transactions to cardholders’ accounts and replacing lost cards. Capital One has issued cards for Walmart since 2019.

OnePay offers a variety of banking and financial services, including a cashback debit card, a digital wallet, and domestic and international peer-to-peer payments. The company’s banking services are provided through Coastal Community Bank and Lead Bank.

“Walmart is always seeking innovative ways to help customers save money and live better,” John David Rainey, executive vice president and chief financial Officer for Walmart, says in a statement. “Today’s announcement represents one more way we’re … providing an upgraded digital financial-services experience.”

(Reuters) -Walmart has once again partnered with Synchrony Financial to issue the retail giant’s credit card, the consumer financial services company said on Monday.

The card will be integrated into Walmart’s OnePay app and operate on Mastercard’s global network. The card, expected to be launched this fall season, will provide users with access to the retail giant’s wide-ranging in-store and online ecosystem.

Retailers are increasingly collaborating with lenders to provide consumers with a wider range of payment choices.

Besides the general-purpose credit card that can be used anywhere MasterCard is accepted, OnePay and Synchrony will also launch a private label card that will be limited to purchases at Walmart.

Synchrony previously issued Walmart’s cards, but the retailer ended the two-decade-long partnership in 2018, handing over the issuance of its store-branded credit cards to Capital One the following year.

However, Walmart ended its credit card partnership with Capital One last year, citing delays in updating transactions to cardholders’ accounts and slow replacement of lost cards.

Over the years, Walmart has explored various credit partnerships and also partnered with Klarna for installment lending earlier in 2025.

(Reporting by Prakhar Srivastava in Bengaluru; Editing by Leroy Leo)

A Walmart store is shown in Oceanside, California, U.S., May 15, 2025. REUTERS/Mike Blake/ File Photo Purchase Licensing Rights , opens new tab

The card will be integrated into Walmart’s OnePay app and operate on Mastercard’s (MA.N) , opens new tab global network. The card, expected to be launched this fall season, will provide users with access to the retail giant’s wide-ranging in-store and online ecosystem.

Sign up here.

Retailers are increasingly collaborating with lenders to provide consumers with a wider range of payment choices.

Besides the general-purpose credit card that can be used anywhere MasterCard is accepted, OnePay and Synchrony will also launch a private label card that will be limited to purchases at Walmart.

Synchrony previously issued Walmart’s cards, but the retailer ended the two-decade-long partnership in 2018, handing over the issuance of its store-branded credit cards to Capital One (COF.N) , opens new tab the following year.

However, Walmart ended its credit card partnership with Capital One last year, citing delays in updating transactions to cardholders’ accounts and slow replacement of lost cards.

Over the years, Walmart has explored various credit partnerships and also partnered with Klarna for installment lending earlier in 2025.

Reporting by Prakhar Srivastava in Bengaluru; Editing by Leroy Leo

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