Walmart plans to offer BNPL loans through its fintech venture - report

A display for multinational retail corporation Walmart is seen at the Collision conference in Toronto, Ontario, Canada June 23, 2022. Picture taken June 23, 2022. REUTERS/Chris Helgren/File Photo

(Reuters) - The fintech venture backed by Walmart Inc is planning to launch buy now, pay later loans as soon as next year, the Information reported on Thursday, citing three people familiar with the matter.

Walmart did not immediately respond to a Reuters request for comment.

The retail giant last year entered a strategic partnership with investment firm Ribbit Capital to create the fintech startup, known as "One".

(Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Shounak Dasgupta)