OnePay, a fintech that is majority-owned by Walmart, is breaking ties with Affirm Holdings to work with Klarna Group on installment financing products.
Affirm confirmed the move in a regulatory filing, noting that the switch will take place later this year.
Affirm has been offering pay-over-time products to Walmart’s customers.
Over a six-month period that ended on Dec. 31, purchases made through the integrated program with Walmart represented about 5% of Affirm’s gross merchandise volume and roughly 2% of its adjusted operating income.