Earlier today, it was reported that Affirm (NASDAQ:AFRM) had been pushed out from one of the largest retailers in the world. Klarna, expected to soon become a public company, had announced partnering with OnePay to supplant Affirm in providing buy now pay later (BNPL) services at Walmart (NYSE: WMT).
OnePay is a Fintech controlled by Walmart.
A spokesperson from Affirm reached out with the following statement on the news:
“We win business when merchants want superior performance and maximum value, given our underwriting and capital markets advantages. We will continue our long-term strategy of competing on our products and entering into sustainable partnerships.”
Affirm has also issued an 8-k that notes that it will continue to provide services to Walmart customers as the company’s integrated merchant partner.
Affirm shared:
“The Company makes its pay-over-time products available to Walmart’s customers through the Company’s integrated program with Walmart, as well as through the Company’s direct-to-consumer products, the Affirm App and Affirm Card. During the six-month period ended December 31, 2024, purchases made through the Company’s integrated program with Walmart represented approximately 5% of the Company’s Gross Merchandise Volume and approximately 2% of the Company’s Adjusted Operating Income.”
Shares of Affirm declined by slightly more than 4% today in volatile trading of over 4X the normal trading volume.