Walmart's Fintech Gambit: How OnePay's Innovations Could Reshape Retail and Stock Valuation

Walmart's foray into fintech is no longer a side experiment-it's a full-scale offensive to disrupt traditional banking and payment systems. Through its fintech arm, OnePay, the retail giant is leveraging cryptocurrency, credit cards, and buy-now-pay-later (BNPL) services to build a financial ecosystem that could redefine customer loyalty and profitability. As of 2025, these innovations are not just speculative bets but calculated moves with tangible implications for Walmart's stock valuation and long-term growth.

Crypto Integration: A Gateway to Mainstream Adoption

OnePay's most audacious move is its plan to offer Bitcoin (BTC) and Ethereum (ETH) trading and custody services via its mobile app, powered by Zerohash, according to a Simply Wall St analysis. This initiative, set to launch by late 2025, allows users to convert crypto into fiat for in-store purchases or card payments. By democratizing access to digital assets, Walmart is positioning itself as a bridge between crypto-savvy millennials and the broader retail market. According to a Payments Journal report, this strategy could accelerate mainstream adoption of cryptocurrencies, particularly among Walmart's 255 million customers.

The financial upside is twofold: first, by reducing reliance on third-party payment processors through direct crypto-to-fiat conversions; second, by capturing a slice of the growing crypto transaction fees. Analysts at Simply Wall St estimate that these services could contribute significantly to Walmart's revenue, especially as crypto volatility stabilizes.

Credit Cards and BNPL: Competing with Banks

Walmart's partnership with Synchrony to launch a general-purpose Mastercard and a Walmart-specific store card, a strategic pivot from its previous Capital One collaboration, was reported by a CNBC report. Embedded within the OnePay app, these cards offer instant rewards, cashback, and seamless integration with Walmart's loyalty programs. This move is expected to boost customer retention and average order values, as users are incentivized to spend more to maximize card benefits, per coverage in the Financial Technology Report.

Complementing this is OnePay's BNPL partnership with Klarna. By offering interest-free installments, Walmart is targeting price-sensitive shoppers who might otherwise delay purchases. This not only drives immediate sales but also aligns with the broader trend of "financial wellness" tools in retail. As Pymnts notes, such services could enhance Walmart's appeal to underbanked consumers, further diversifying its customer base.

Financial Impact and Analyst Projections

The fintech arm's expansion is already attracting capital. A $300 million funding round led by Walmart and Ribbit Capital values OnePay at $2.5 billion pre-funding, according to the Financial Technology Report, signaling confidence in its scalability. Analysts project that these initiatives could drive Walmart's revenue to $789.9 billion and earnings to $27.4 billion by 2028, assuming cost pressures and international e-commerce losses are mitigated.

OnePay's ability to reduce interchange fees through pay-by-bank features-allowing direct bank transfers for online purchases-could also improve profit margins. By cutting out card networks, Walmart could save billions annually, redirecting those funds into marketing or store modernization.

Challenges and Risks

Despite the optimism, risks persist. Regulatory scrutiny of crypto remains a wildcard, and BNPL services could expose Walmart to credit risk if defaults rise. Additionally, international e-commerce losses and inflationary pressures could offset fintech gains. However, Walmart's scale and brand trust provide a buffer, enabling it to absorb short-term hiccups while competitors falter.

Conclusion: A Fintech Powerhouse in the Making

Walmart's fintech strategy is a masterclass in leveraging retail dominance to disrupt finance. By bundling crypto, credit, and BNPL into a single app, OnePay is creating a sticky ecosystem that rivals traditional banks. For investors, the key takeaway is clear: Walmart's stock valuation is no longer just about grocery sales-it's about its ability to monetize financial services. As OnePay rolls out its innovations in 2025, the market will likely reward the company's boldness with a re-rating of its long-term potential.