OnePay Later at Walmart: Klarna Takes Checkout, Affirm Still Sees Growth

Last year, Walmart moved its buy now, pay later partner from Affirm Holdings to Klarna Group. Even so, Affirm’s chief executive says the firm is still expanding its business with the big-box chain.

The shift prompted Walmart’s financial technology arm, OnePay, to weave Klarna into checkout for both online orders and in-store purchases.

About 14 months later, comments this week from leaders at both companies suggest shoppers are directing substantial payment volume to each provider.

For shoppers, buy now, pay later at Walmart generally works like this: you pick a pay-over-time option at checkout, complete a short application, receive an instant approval or denial, and then repay on a set schedule (often in four payments or in monthly installments). Payments are typically made automatically from a linked debit card, credit card, or bank account, and most providers let you pay early in the app or dashboard.

Affirm’s Outlook: Sales Hold Steady After Pay Later Shift

Affirm chief executive Max Levchin said Tuesday in New York that the March 2025 changeover didn’t reduce the company’s sales throughput at the retailer, according to his investor day remarks.

He noted that a sizable majority of those customers obtained Affirm-branded cards and still tap Affirm at the point of sale, both online and offline, while avoiding naming Walmart.

Levchin added that transactions with that merchant keep climbing for Affirm, contrary to what many expected.

Klarna’s Performance With Walmart: Volume On Track

Similarly, Klarna’s activity with Walmart is tracking very well on volume and aligns with projections, chief financial officer Niclas Neglén told analysts on Thursday’s quarterly call.

Answering a question from an F.T. Partners analyst, Neglén declined to detail specific partner flow metrics but characterized the tie-up as healthy and expanding in line with expectations.

A Klarna spokesperson said there was nothing to add beyond Neglén’s statements.

Press Release Context: OnePay Partnership Highlights

In last year’s announcement of the collaboration, chief executive Sebastian Siemiatkowski called it a watershed move and a strong vote of confidence from OnePay and Walmart.

Representatives for OnePay and Walmart didn’t immediately return Thursday email requests for additional comment. An Affirm spokesperson said there were no further details beyond Levchin’s remarks.

At , using OnePay’s pay later flow typically starts in the cart or checkout: select the pay-over-time option, choose a plan (such as Pay in 4 or a longer installment schedule when offered), and complete the provider’s prompts for identity and payment method. If approved, you’ll see the payment schedule before you place the order, and you can usually manage due dates, autopay, and early payoff inside the provider’s app or account settings.

In stores, pay later availability depends on the checkout path Walmart enables in your market and on your device, but the basic steps are similar: start a purchase at the register, choose the OnePay- or Walmart app-based payment method if prompted, select the pay-over-time option, complete the quick approval flow, and then finalize payment using the in-app method provided (such as a generated payment credential). The integration described by Walmart and OnePay is intended to support in-store purchases as well as online orders.

Not every item is eligible for pay over time. Exclusions can vary by provider and order type, but categories that are commonly restricted include gift cards and other stored-value products, some regulated goods (such as alcohol, tobacco, and firearms-related products), and certain digital goods, subscriptions, and services. If an item is excluded, checkout typically won’t show the pay-over-time option for that cart.

Fees and interest rates also depend on the plan and provider. Pay in 4 offers are often presented as interest-free, while longer installment plans may include interest, and late or returned-payment fees may apply if you miss a payment. Shoppers usually see the full cost of the plan—including any interest—before confirming the purchase.

Whether pay later affects your credit score can depend on the provider and the product. Many pay-over-time decisions use a soft credit check or alternative data for eligibility, while some longer-term financing can involve a hard credit inquiry. Even when approval doesn’t use a hard inquiry, missed payments may still be reported in some cases and can harm your credit.

Purchase limits are not a single Walmart-wide number. The maximum amount is typically set by the provider based on the shopper, the cart, and the plan selected, and the limit shown at checkout can change over time.

Most pay-over-time providers allow early payoff, and many do so without a prepayment penalty; the practical benefit is that paying early can reduce future interest on plans that charge it and can lower the chance of a missed-payment fee. The exact options are usually handled inside the provider’s app or account portal after the transaction is created.

As for which app is “easiest” to get approved for at Walmart, approvals are case-by-case, but integrated, shorter-term Pay in 4 offers at checkout are often the quickest for many shoppers because the application is streamlined and the repayment window is shorter. Klarna’s Pay in 4 is a common pay-in-4 option in OnePay’s checkout, and Affirm may offer Pay in 4 or longer installment plans depending on how the purchase is routed and which Affirm product you use (including, for some shoppers, an Affirm-issued card used at the point of sale).

Klarna’s Q1 Results: Profit Returns, Growth Accelerates

The London-headquartered company reported first-quarter net income of $1 million on Thursday, versus a $99 million loss in the same quarter of 2025. Revenue increased 44% to $1 billion from $701 million a year earlier, and gross merchandise volume rose 33% year over year to $33.7 billion.

Executives added that United States customers using its pay over time products have stayed financially resilient despite inflation and broader economic volatility.