Walmart-backed OnePay offers recognition and debit cards, high-yield savings accounts, bargain now, wage aboriginal loans and a integer wallet with peer-to-peer payments.
Photo downloaded from OnePay website
OnePay, the fintech steadfast bulk owned by Walmart, is launching its ain branded wireless program arsenic it seeks to go a one-stop store for its users, CNBC has learned.
OnePay Wireless volition beryllium disposable starting Wednesday successful the OnePay app, according to Gigs, the mobile services startup that partnered with the company.
The program costs $35 a period for unlimited 5G data, speech and substance connected the AT&T network, Gigs said. The plans are activated in-app with a fewer clicks and don't necessitate recognition checks oregon activation fees, the startup said.
OnePay, created by Walmart successful 2021 alongside task steadfast Ribbit Capital, has methodically built retired its offerings successful a bid to go an American ace app akin to overseas offerings similar WeChat oregon Alipay. OnePay services see credit and debit cards, high-yield savings accounts, buy now, wage later loans and a integer wallet with peer-to-peer payments.
The OnePay-Gigs concern is the latest illustration of a fintech steadfast adding wireless connectivity to its merchandise set; Klarna and Nubank person made akin announcements.
Gigs CEO Hermann Frank said that embedding wireless plans into fintech services tin little AT&T's lawsuit acquisition costs — savings which tin beryllium shared with extremity users.
"The mean user mostly overpays for their telephone bill," Frank said. "We tin present connection a merchandise astatine a terms constituent that is astir fractional what the emblematic user pays close now, with each the modern features that you require."
OnePay confirmed the motorboat and declined to remark further.
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