Walmart-backed fintech startup plans to launch its own buy now, pay later loans

Key Facts

• The venture, called One, is gearing up to launch its own version of the payment service as soon as next year, according to a source familiar with the matter.
• One, which is majority-owned by Walmart, wants to launch a service that shoppers could use at Walmart’s website and stores, as well as at other retailers, the source said.
• One is breaking into the growing payment services category as monthly retail sales numbers continue to rise, but some Americans show signs of strain from inflation driving up the prices of food, housing and more.
• Ahead of last holiday season, it ended its layaway program and replaced it with the buy now, pay later financing.

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