Walmart Inc.’s credit cards will once again be issued by Synchrony Financial as the world’s largest retailer makes a renewed push into financial services.

OnePay, a financial technology firm backed by Walmart, picked Synchrony to issue both a co-branded card that can be used outside Walmart as well as a private-label card that will be available just for purchases at the retailer, according to people with knowledge of the matter. OnePay will begin offering the cards in the US later this year.