Affirm Holdings (AFRM), a leading player in the buy now, pay later (BNPL) space, faces renewed pressure as rival Klarna secured a significant partnership with OnePay, a fintech company majority-owned by Walmart (WMT). This move will see Klarna exclusively powering installment loans for Walmart shoppers in the U.S., which means that Affirm will no longer be the exclusive BNPL provider for the retail giant.
Also, Walmart’s existing integration with OnePay — across its digital and physical shopping channels — gives Klarna a strategic advantage. This shift raises short-term concerns about Affirm’s top-line growth, as Walmart has been a significant partner.
