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.
