Walmart Officially Dumps Capital One, Swipes Right On Itself with New Fintech Move…

Wally World is officially done letting third-party bankers fumble its customer credit… and honestly, who can blame them? After their Capital One breakup went full Jerry Springer, the retail giant has now decided to keep it in the family. Which is why OnePay, Walmart’s fintech Frankenstein, is tag-teaming with Synchrony to launch a credit card program so integrated it practically asks if you want fries with your FICO score. 

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In short, starting fall 2025, Walmart customers can get not one, but two flavors of plastic… except this time, the “plastic” lives rent-free in your OnePay app. There’s the general-purpose Mastercard, which you can swipe anywhere that doesn’t have a “cash only” sign taped to the register, and a Walmart-only card for the true loyalists who measure their net worth in rollback savings. Both are issued by Synchrony, the prodigal son returning after Walmart’s brief “let’s see other people” phase with Capital One.

With that said, the real cash cow here is by baking the credit card directly into OnePay. By doing that, Walmart is trying to trap you in its digital ecosystem with the same kind of thirstiness that mimics Apple’s walled garden. The card sits right next to your debit, high-yield savings, digital wallet, BNPL, and P2P payments… a.k.a. All the features nobody asked for but everyone’s grandmother is about to accidentally sign up for. With Coastal Community Bank and Lead Bank backing the FDIC side and OneProgress handling the “don’t pay now, pay later, or maybe just never” offerings, the financial plumbing is set. 

(Source: PYMNTS)

Additionally, this move is less about “helping the unbanked” and more about Walmart getting a piece of everyone’s monthly nut. With consumer debt at “any higher and the Fed will go batsh*t crazy” levels, Walmart wants the interest, the fees, and the transaction data so bad they can taste it. Why let Chase or Capital One hoover up the interchange off your next $600 grocery tab when Walmart can skim it, then upsell you a rotisserie chicken and a payday loan in the same session?

This just adds to the everflowing tech renaissance man that is Walmart. Perhaps you’ve heard, but Walmart is going full-send on anything and everything that will siphon money from the masses into their pockets: AI-powered inventory, drone delivery in five cities, “Store of the Future” supercenters that look like Minority Report sets, and now a fintech UX aimed at making banks and neobanks look like they’re running Windows 95. As for Synchrony, this is a get-out-of-B-tier-free card. They were Walmart’s credit partner for 20 years before getting dumped for Capital One in 2018, so this is an epic rebound tour. If Synchrony can scale this, they’re back in the retail credit big leagues. If not, well… There's always the “BNPL” scam.  

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Of course, Walmart hasn’t delivered any actual numbers yet, but the upside is obvious. A digital-native card program, embedded in a platform with millions of Walmart users, could siphon off a fat chunk of the $1.6 trillion consumer credit pie. And with OnePay’s “all your money in one app” pitch, this is as much about long-term data capture as it is about skimming 22% APRs off suburban families.

Meaning, this could be a BFD for the Walton’s. However, investors haven’t seemed to buy their one-way ticket on the bandwagon yet as shares were little changed yesterday (with shares being down -2.55% over the past five days). Obviously, today we could see some better movement, but as of this writing… It's looking like a slow day as the stock is sitting at -0.28%. 

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So yeah, in the meantime, keep your eyes on this story and for any additional developments that come with it. As always, place your bets accordingly, and stay safe out there. Until next time, friends… 

At the time of publishing, Stocks.News holds positions in Apple as mentioned in the article.