Retail giant Walmart is bringing its credit card program back under the management of Synchrony Financial, following a new agreement involving fintech firm OnePay. This move marks a return to a long-standing partnership and a shift in Walmart’s strategy around financial services, just a few years after the retailer transitioned to Capital One.
The Background
For nearly two decades, Synchrony had been the issuer of Walmart’s private-label and co-branded credit cards. However, in 2019, Walmart made headlines by switching to Capital One as its official credit card partner. That relationship eventually soured, leading to legal disputes over issues like customer service standards and application processing delays.
In 2024, a U.S. judge allowed Walmart to terminate the partnership early, paving the way for a new credit card issuer — and the retailer is now circling back to a familiar name: Synchrony.
The Role of OnePay
The revived partnership is being shaped under a new pact with OnePay, a growing player in fintech focused on embedded finance and digital credit infrastructure. OnePay will work alongside Synchrony to deliver streamlined, tech-first credit offerings that are more in line with modern consumer behavior and digital shopping trends.
The collaboration is expected to introduce enhanced digital onboarding, real-time credit approvals, improved mobile experiences, and rewards integration within Walmart’s expansive online and in-store ecosystem.
Why It Matters
This move signals Walmart’s renewed focus on customer-centric financial services. With millions of customers relying on Walmart for everyday essentials, the company is positioning its credit cards as a key tool for building loyalty and improving shopper convenience.
Synchrony, which already powers credit programs for brands like Amazon and Lowe’s, brings deep experience and infrastructure. Combining that with OnePay’s agile technology promises a more robust and personalized credit experience for Walmart cardholders.
For Synchrony, regaining Walmart as a partner is a major win — one that helps solidify its dominance in the private-label credit card market.
What Customers Can Expect
The new credit card program is expected to roll out in phases, starting later this year. Customers can look forward to:
- Faster application approvals
- Deeper rewards integration with Walmart+
- Advanced fraud protection and card management tools
- Better syncing with Walmart’s app and online store
Walmart has not yet disclosed specific card features or benefits, but insiders suggest a strong emphasis on loyalty rewards, installment payment options, and greater accessibility for lower-credit applicants.
Final Thoughts
Walmart’s decision to return to Synchrony, now in partnership with OnePay, highlights a shift toward smarter, tech-driven financial services. As competition heats up in retail and fintech, this trio is aiming to offer consumers a smoother, more rewarding credit experience — one that’s built for the digital-first economy.
