Synchrony Regains Walmart Credit Card Issuance After 6-Year Hiatus

Synchrony Financial, a prominent consumer financial services company, has announced a renewed partnership with Walmart to issue the retailer's credit cards. This collaboration marks a significant return for Synchrony, which previously managed Walmart's credit card program before it was transferred to Capital One in 2018. The new arrangement will see Synchrony issuing two types of credit cards: a co-branded card that can be used at various merchants and a private label card exclusively for Walmart purchases. These cards will be integrated into Walmart's OnePay application and will operate on the Mastercard global network.

The decision to re-engage with Synchrony comes after a period of uncertainty following the separation from Capital One. Synchrony's re-entry into the Walmart credit card market is a strategic move that aligns with both companies' goals to enhance customer experience and financial services. The co-branded card will offer flexibility to consumers, allowing them to use it beyond Walmart's stores, while the private label card will provide tailored benefits and rewards for Walmart shoppers.

This partnership is expected to leverage Synchrony's expertise in consumer finance and Walmart's extensive customer base to create a seamless and rewarding credit card experience. The integration of the cards into the OnePay application will streamline the payment process, making it more convenient for customers to manage their purchases and rewards. Additionally, the use of the Mastercard network ensures global acceptance, providing customers with the flexibility to use their cards both domestically and internationally.

The renewed collaboration between Synchrony and Walmart underscores the importance of strategic partnerships in the financial services industry. By combining their strengths, both companies aim to deliver innovative financial solutions that meet the evolving needs of consumers. This move is likely to strengthen Synchrony's position in the credit card market and reinforce Walmart's commitment to providing comprehensive financial services to its customers.

Walmart has been exploring various credit partnerships over the years. In early 2025, the retailer collaborated with Klarna to offer installment payment services, further expanding its financial offerings. This latest partnership with Synchrony is another step in Walmart's efforts to provide a wide range of payment options to its customers, enhancing their shopping experience and financial flexibility.

Synchrony's return to issuing Walmart credit cards follows a period of transition. In 2018, Walmart ended its 20-year partnership with Synchrony and transferred the credit card program to Capital One. However, Walmart terminated its agreement with Capital One in 2024, citing issues such as delayed account updates and slow replacement of lost cards. This move paved the way for Synchrony's re-entry into the market, allowing the company to regain its position as Walmart's credit card issuer.

The new credit cards are expected to be launched in the fall of this year. The co-branded card will be accepted at all Mastercard locations, providing users with broad usage options. The private label card, on the other hand, will be exclusively for Walmart purchases, offering specialized benefits and rewards tailored to the retailer's customers. This dual-card approach aims to cater to a diverse range of consumer preferences, ensuring that both frequent Walmart shoppers and those who prefer broader usage options are well-served.

This strategic partnership between Synchrony and Walmart is set to enhance the overall shopping experience for Walmart customers. By integrating the credit cards into the OnePay application, both companies aim to provide a seamless and convenient payment solution. The use of the Mastercard network further ensures that customers can use their cards globally, adding to the overall flexibility and convenience of the new credit card offerings.