April 23 (Reuters) – Walmart’s (WMT.N), opens new tab majority-owned fintech startup One has started offering buy now, pay later (BNPL) loans for big-ticket items like electronics and power tools at some of the retailer’s U.S. stores, a source said on Tuesday.
The fintech joins peer Affirm (AFRM.O), opens new tab as one of the options that Walmart customers will have when shopping at the retail giant.
The news, first reported, opens new tab by CNBC citing a recent visit, said ads for both One and Affirm are vying for consumer attention in the retail chain’s electronics aisles.
“For the time being, Affirm will remain a funding option at Walmart but will presumably compete head-to-head with One at the point of sale (POS),” JPMorgan wrote in a note on Tuesday, adding that Walmart could push One more prominently at the POS.
Affirm has also stepped outside the competitive e-commerce market to offer BNPL services for elective medical procedures, Reuters reported earlier on Tuesday.
Source: REUTER
