Walmart-backed fintech One introduces buy now, pay later as it prepares bigger push into lending
Publishing timestamp: 2024-04-23 11:51:01
Summary
Walmart's fintech startup One is now offering buy now, pay later loans at its stores, putting it in direct competition with Affirm. This move could potentially disrupt existing partnerships in American retail. One aims to become a financial superapp, challenging traditional banks and lenders. Walmart's broader efforts in finance and other areas are part of its strategy to grow profits beyond retail sales. One's no-fee approach targets underserved customers and could generate significant revenue. The company's expansion into lending could threaten existing financial partners while also defending against competition from other fintech players.
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Source: https://www.cnbc.com/2024/04/23/walmart-backed-fintech-one-introduces-buy-now-pay-later.html