OnePay, a fintech company owned by Walmart in majority, will allow customers to purchase, hold and sell bitcoins directly through its app. This will allow mainstream U.S. consumers to access bitcoin.
CNBC reportingOnePay will launch its service in the second half of this year, working with Zerohash.
OnePay, founded in 2021 and backed by Walmart and Ribbit Capital has grown steadily. “everything app” for digital finance, offering savings accounts, cards, buy now–pay later services, and even wireless plans.
The firm has joined other U.S. Fintech leaders, such as PayPal, in embracing bitcoin by adding custody and trading. Venmo The Cash App is one of the apps that allows crypto-purchases.
OnePay customers could convert their bitcoins using the integration. into dollars for everyday use — whether to make purchases at Walmart stores or to pay down card balances.
OnePay may be able to reach more people than its rivals, given that Walmart has already integrated 150 million U.S. weekly shoppers into their ecosystem.
The timing is right for OnePay. OnePay’s app is now ranked No. Apple App Store’s free Finance Apps now rank No. JPMorgan ChaseCNBC reported that Chime is a new investment product, as well as Robinhood.
FinTech adopts Bitcoin
Nearly every app ahead of OnePay in the App Store — such as PayPal and Cash App — already has some form of bitcoin trading.
PayPal is bringing back the Back in July promotion. said It will allow U.S. Small Businesses to accept more than 100 crypto-currencies, including Bitcoin, through its online payment platform.
Merchants pay a promotional 0.99% fee in the first year, rising to 1.5% afterward — both below the average U.S. credit card processing cost.
Although OnePay operates as a separate entity, its real strength comes from being deeply integrated into Walmart’s well-established and massive retail ecosystem — appearing directly at checkout both online and in stores.
The world’s biggest retailer is increasingly seeing bitcoin as a part of mainstream commerce.
OnePay is a collection of tools that can be used to manage your finances. OnePay Later is a Klarna-powered buy-now, pay-later service. OnePay Cards are a combination of a credit card with a reward card to earn points for purchases.
The app supports both bitcoin and Ethereum trading.
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Source: bitcoinmagazine.com
