Klarna, nearing IPO, plucks lucrative Walmart fintech partnership from rival Affirm

Key Points

Swedish fintech firm Klarna will be the exclusive provider of buy now, pay later loans for Walmart, taking a coveted partnership away from rival Affirm, CNBC has learned.
Klarna, which disclosed its intention to go public in the U.S., will provide loans to Walmart customers in stores and online through the retailer’s majority-owned fintech startup OnePay, according to people with knowledge of the situation.
OnePay, which updated its brand name this month, will handle the user experience via its app, while Klarna will make underwriting decisions for loans ranging from 3 months to 36 months in length.

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