The Cards Offered
The new credit cards consist of a general-purpose card and a private label card, both issued by Synchrony and integrated into the OnePay app. Mastercard will provide the necessary payments infrastructure for these products. While the general-purpose card can be used anywhere Mastercard is accepted, the private label card will only work for Walmart purchases.
Program Details
Both cards will be available to customers of Walmart in the United States and other qualified users. OnePay aims to expand its digital financial products with this partnership, adding credit capabilities alongside existing services such as debit accounts with cashback, high-yield savings, digital wallet services, peer-to-peer transfers, and instalment loans.
Aligning with Financial Management Goals
According to OnePay officials, the integration of credit cards aligns with their vision of simplifying personal financial management by offering tools for saving, spending, borrowing, and growth in a single platform. Synchrony’s role will focus on providing credit infrastructure and digital capabilities, aiming for enhanced customer loyalty and favorable financial outcomes.
Walmart’s Involvement
Walmart officials view this move as part of their broader strategy to offer consumers digital financial options that fit their preference for convenience and control. Mastercard, responsible for the global network infrastructure, sees the partnership as a means to integrate retail and credit capabilities in a secure and flexible payment environment.
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