Walmart Partners With Synchrony to Reintroduce Credit Cards

Walmart and Synchrony collaborate to relaunch credit cards, focusing on customers and employees through the OnePay platform.

To mark the resume of a partnership that was put on hold in 2018, Walmart’s majority-owned fintech company, OnePay, stated on Monday that it is restarting its partnership with Synchrony Financial to issue Walmart credit cards.

As part of this collaboration, two types of credit cards, one being a general-purpose Mastercard and the other a Walmart-branded card, will be offered by Synchrony. The first can be used anywhere Mastercard is accepted, and the latter is used only at Walmart stores. According to the companies, Walmart’s OnePay app will handle all customer interactions, while Synchrony will take care of issuing the cards, managing the balances, and handling loan services. Walmart plans to offer more payment options and lower the costs it pays to card operators and payment networks when consumers shop online and at its 4,600 locations nationwide. These credit cards are mainly aimed at Walmart’s 1.6 million employees in the U.S., as well as the company’s large customer base, nearly 90% of whom live within 10 miles of a Walmart store. In 2021, Walmart teamed up with Ribbit Capital to create OnePay, its financial services company.

By broadening its financial services—such as offering a digital wallet, high-yield savings accounts, and peer-to-peer payment tools—Walmart has expanded its offerings through this platform. Recently, Walmart partnered with Klarna to offer installment loans for Walmart purchases, and OnePay provides a debit card for the company’s employees. Monday's announcement marks Walmart's return to working with Synchrony, which provided Walmart's store-branded credit cards until 2018—when the contract shifted to Capital One the following year. However, in 2024, Walmart decided to end its partnership with Capital One, due to problems like delayed transaction updates to cardholders’ accounts and slow processing when replacing lost cards.