Clarena, close to the public subscription, wins the Fintech partnership of confirmation

Swedish Fintech Company clear It will be the exclusive provider for purchase now, and pay the loans later Wal MartHe took a desirable partnership away from the competition to be sureI learned CNBC.

Obviously, just Detected Its intention to the public in the United States will provide loans to Walmart customers in stores and online by starting the Fintech of the majority of retail stores OnePayAccording to people who have knowledge of the situation who refused to identify the talk about partnership.

OnePay, which to update People said that the name of its brand from one this month will deal with the user experience through its application, while Klarna will make subscription decisions for loans ranging from three months to 36 months, and with annual interest rates from 10 % to 36 %.

The new product will be launched in the coming weeks and will be limited to all Walmart channels by the holiday season, which is likely to leave the purchase of the only retail stores now, and later pushed by the end of the year.

This step increases the competition between confirmation and Klarna, one of the largest BNPL players in the world, just as Clarna was appointed to the public. Although the two companies claim that they are a better alternative to borrowers than credit cards, the confirmation is more focused on the United States and has been a year since 2021, while Clarna is more universal.

Confirm shares decreased by 11 % in the pre -market trading on Monday.

The deal comes at an appropriate time for Klarna because it is preparing for one of the most expected primary public offers per year. After a scarcity of large technology lists in the United States since 2021, Clarna will be a major test of industry. The market evaluation was a rotation: it has risen 46 billion dollars In 2021, then Shattered 85 % next year amid a wider decrease in high -tech companies.

CEO Sebastian Simiakovsky It worked to improve the horizons of Klarna, including describing its use of AI Tolide For the depth of expenses and the number of the cons up. The company returned to profitability in 2023, and its evaluation is now about 15 billion dollars, according to analysts, as they are almost identical to the general market value of confirmation.

Simiakovsky said in a Release Confirm the agreement.

“Millions of people in the United States in Wall Mart every day – and now they can shop more intelligent with OnePay installment supported by Klarna,” he said. “We look forward to helping to redefine the exit in the largest retail stores in the world – online and in stores.”

As part of the deal, OnePay can take a position in Klarna. There F-1 FiltClarna said that she had concluded a “commercial agreement with a global partner” in which it offers orders to buy more than 15 million shares at an average price of $ 34 each. OnePay is the partner, the people who have knowledge of the deal emphasized.

To confirm, this step is likely to be seen as a blow at a time when technology shares are particularly weak. It is managed by the CEO Max Livishin, PayPal The co -founder, the shares of the company increased and decreased since 2021 the public subscription. The lender shares decreased by 18 % this year before Monday.

Executive officials often mention in confirming their partnerships with senior merchants as a major engine of purchase and customer acquisition. In November, the chief revenue official affirm Wayne Boumene Walmart and other links, including those with Amazonand Shopify and goal As “the crown jewel partnership”.

A confirmation spokesman refused to comment.

The deal does not back down from OnePay from Walmart, which rose to a 2.5 billion dollars Just two years before the money evaluation of the launch of a set of products to its customers.

Upon starting now more than 3 million active customers and achieves revenue at an annual operating rate of more than $ 200 million.

As part of pushing it to penetrate the areas adjacent to its basic work, Walmart’s executive managers described the capabilities of OnePay to become one store for Americans who suffer from lack of services by traditional banks.

Walmart is the largest retail store in the world and says it has 255 million weekly customers. Startup offers a separate company supported by Walmart and Capital – A major advantage in obtaining new customers.

Last year, Fintech is supported by Walmart The show started BNPL loans in the corridors and in the exit pages from Walmart, CNBC mentioned at the time. This has led to speculation that it would eventually replace the confirmation, which was the exclusive provider of BNPL loans for Walmart since 2019.

OnePay’s move to partnership with Klarna instead of going alone shows that the company has witnessed an advantage in going with a widely experienced provider in exchange for using its own solution.

OnePay’s batch of consumer lending is expected to speed up the transfer of Walmart customers to Fintech users. Consumers who are increasingly financial hardship depend on loans to meet their needs, and the installment loan is seen as a wedge to also provide users with the features of banking services, savings and payments that are already designed by OnePay.

The Americans set a record 1.21 trillion dollars In the debts of credit cards in the fourth quarter of last year, about $ 441 billion is higher than the balances in 2021, according to the federal reserve data for New York data.

“It was never important to give consumers simple and comfortable ways to reach fair credit at the point of sale,” said Omer Ismail, CEO of OnePay. “This is especially true for millions of people who resort to Walmart every week in everything.”

There will be a credit card bearing the OnePay brand that is presented with the help of a new banking partner after the success of Walmart out Partnership with Capital is one.

“We look forward to walking in this new path, as they can not only provide credit for installments … but also rotating credit” John David Rene Tell the investors in June.

– This report contributed to this report.