“A fintech startup whose investors include Walmart will reportedly begin offering a buy now, pay later (BNPL) solution as soon as 2023. According to CNBC, One, a fintech company jointly backed by Walmart and investment firm Ribbit Capital, one of the venture capital firms behind Robinhood, plans to launch a BNPL service that customers could use online and in-store at Walmart as well as other retailers.   A source told CNBC that continued economic challenges and inflation are motivating the decision to roll out a new BNPL service. According to a recent study from Juniper Research, the number of BNPL users will surpass 900 million globally by 2027. This will mark an increase of more than 540 million users from 360 million users in 2022. Juniper Research data indicates this 157% growth rate will be driven by an anticipated economic downturn, which will increase the demand for low-cost credit solutions. Interestingly, Walmart has been offering a flexible buy now, pay later ((BNPL) payment option with Affirm since February 2019, when it began allowing customers to use Affirm to make installment payments on purchases at more than 4,000 Walmart Supercenter stores nationwide. Walmart also integrated Affirm as a payment option on the Walmart.com e-commerce site, and makes the service available in Walmart Vision Centers.”

“Walmart is partnering with a financial services technology platform to let shoppers redeem credit card rewards points at its stores. The discount giant is joining the Premium Payback real-time rewards redemption network offered by fintech provider FIS. As a result, Walmart customers are now able to redeem their credit card rewards points for real-time discounts at more than 4,700 Walmart stores across the U.S. Walmart customers using eligible cards will be prompted at checkout with the option to turn their card rewards currency into discounts, which will be deducted from their purchase amount.”

“While PhonePe Switch and Stores still exist, the Walmart-owned company will launch a separate consumer buyers’ app by the end of the month that will be a part of the ONDC network, India’s infrastructure bid to break the dominance of ecommerce giants Amazon and Walmart-owned Flipkart in the country. PhonePe’s buyer app will be a consumer-facing platform that will allow shoppers to choose various products from sellers.”

“Walmart (NYSE: WMT) and Green Dot (NYSE: GDOT) today announced the Walmart MoneyCard issued by Green Dot Bank is now offered as a demand deposit account (“DDA”) better equipped to help Walmart customers save money and live better. New and existing Walmart MoneyCard account holders may now access Green Dot Bank’s more comprehensive digital banking platform similar to a traditional banking account, plus the ease and convenience of managing their finances either digitally or at Walmart’s 4,500-plus locations or Green Dot’s 90,000-plus retail distribution locations nationwide.”

“Walmart Inc. ’s financial technology venture, still shrouded in mystery, now has a possible name: Hazel by Walmart. The world’s largest retailer filed for a trademark on the name on March 29, in the process giving clues as to what the startup might actually do. The application with the U.S. Patent and Trademark Office includes a slew of financial services that the startup could potentially offer, from issuing credit cards to offering credit-repair services. The list even includes financial-portfolio analysis and consulting, which suggests that Walmart may target wealthier customers along with its traditional lower-income clientele.”

“Today, Walmart announced the creation of a new fintech startup designed to develop and offer modern, innovative and affordable financial solutions. The new company is a strategic partnership with leading fintech investment firm Ribbit Capital. The venture will bring together Walmart’s retail knowledge and scale with Ribbit’s fintech expertise to deliver tech-driven financial experiences tailored to Walmart’s customers and associates.”

“Walmart over the years has been working to turn its physical retail stores into online fulfillment centers , and now, with its latest set of test stores announced today, the retailer will try out ideas to make that transition more seamless. Walmart says it will deploy personnel to four test stores across the U.S., where they’ll prototype and iterate on new technology and tools that will serve the needs of Walmart’s in-store shoppers and online shoppers alike, including changes involving augmented reality, handheld mobile devices, new apps, in-store signage, omni-assortment and revamped checkout stations.”

“Amazon may have a 15-year head start, but Walmart is close to finally unveiling its own membership program that it hopes will eventually become an alternative to Amazon Prime. Walmart plans to launch a new subscription service later this month called Walmart+ that will cost $98 a year. It will include perks like same-day delivery of groceries and general merchandise, discounts on fuel at Walmart gas stations, and early access to product deals, multiple sources told Recode.”

“Walmart is partnering with Capital One to launch a new credit card program, which rolls on September 24, and includes both co-branded and private-label cards. The former, the Capital One Walmart Mastercard, includes 5% back on purchases made on Walmart.com or paid for in-store using Walmart Pay (the latter for the first 12 months.) The private label card, the Walmart Rewards Card, will offer those same perks, but is limited to being used only in Walmart stores and on Walmart.com.”

“Walmart is expanding its brand-new “Delivery Unlimited” grocery delivery membership program to more stores across the U.S., with plans to reach more than 50% of the country by year-end. The new program allows regular grocery delivery customers to pay either an annual fee of $98 or $12.95 on a monthly basis instead of paying the usual $9.99 per delivery fee. These options make Walmart Grocery delivery more affordable for those who order at least twice a month or more.”