What is OnePay?

Introduction:

OnePay is an application that is designed as a "super app" allowing users to buy goods and services with it like a Debit Card, Gift Card or Credit Card. It also is a place they can cash or deposit their checks and make payments or send people money. It acts like a bank. Lastly consumers can use it to buy, sell, and hold cryptocurrencies, and convert them instantly to cash to make bill payments. And it allows them to bypass traditional banking fees.Walmart bought and further developed OnePay aiming to disrupt both traditional payment methods and challenge companies like Visa and Mastercard.

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What is One Pay and Why is it revolutionary?

OnePay is a financial technology app backed by Walmart that aims to become a comprehensive "super app" for financial services. While it already offers features like debit cards, high-yield savings, and installment loans, its integration of cryptocurrency and connection to Walmart's retail network make it a potentially revolutionary service.

What OnePay is

Backed by Walmart:

Launched in 2021 as a joint venture with Ribbit Capital, OnePay is majority-owned by Walmart. It uses this retail tie-in to access Walmart's massive customer base.

A "super app": OnePay offers a suite of integrated financial products in a single app, including:

Savings accounts
Debit and credit cards
Buy-now, pay-later loans
Peer-to-peer payments
A wireless mobile phone plan

Crypto integration:

In late 2025, OnePay will reportedly enable users to buy, sell, and hold cryptocurrencies like Bitcoin and Ethereum directly in the app.

Why OnePay is revolutionary

Makes crypto accessible for everyday use:

OnePay allows users to instantly convert crypto holdings into cash for purchases at Walmart or to pay credit card balances, making digital assets practical for daily spending. This broadens the user base for crypto beyond early adopters and investors.

Creates a powerful retail payment ecosystem:

By linking banking services and payments directly to the largest retailer in the world, OnePay can bypass traditional financial intermediaries like Visa and Mastercard. This lowers costs for Walmart and could result in lower prices for consumers.

Challenges old finance:

OnePay is a direct competitor to traditional banks and card companies.
By bundling a wide range of financial products, it is competing for banking relationships with millions of Americans, especially those historically underserved by banks.

Combines retail power and fintech innovation:

No other finance app has Walmart's distribution power and reach.
With OnePay, Walmart is leveraging its massive customer base to drive adoption of financial products, including crypto, on an unprecedented scale.
This marks a new era where retail companies can function as integrated financial providers.