OnePay
About
OnePay's core app combines a Cash checking/savings account with early-pay features, a debit CashRewards Mastercard, fractional stock investing starting at $1, cryptocurrency buying/selling/tracking, an IRA retirement product, and a Builder Card credit-building product that reports to all three credit bureaus without requiring a security deposit, credit check, interest, or late fees.
- Founded
- 2021 (announced as Walmart/Ribbit Capital joint venture; consumer products launched in following years)
- Legal entity
- One Finance, Inc. (d/b/a OnePay)
- Registered address
- P.O. Box 513717, Los Angeles, CA 90051 (per OnePay privacy policy)
- CEO
- Omer Ismail
- CTO
- Moe Matar
- CFO
- Patrick O'Connell (joined 2026)
- Monthly active users
- 3 million+ (as of early 2026)
- Latest disclosed valuation
- $4 billion (January 2026, via employee share repurchase)
- Prior valuation
- $2.5 billion (December 2024, after a $300 million round led by Walmart and Ribbit Capital)
- Key banking partners
- Coastal Community Bank; Lead Bank
- Key backers
- Walmart; Ribbit Capital
Overview
OnePay is a U.S. consumer financial technology company, operated by One Finance, Inc. (together with affiliates OneProgress Services LLC and Payment Progress LLC), that offers banking, investing, cryptocurrency trading, credit cards, buy-now-pay-later financing, and credit-building products through a single mobile app. OnePay describes itself as a financial technology company rather than a bank, with FDIC-insured deposit accounts and debit card services actually provided by partner banks Coastal Community Bank and Lead Bank.
The company traces back to a fintech venture Walmart announced in January 2021 in partnership with venture firm Ribbit Capital, majority-owned by Walmart, originally referred to simply as "One." It later launched consumer products and rebranded as OnePay, becoming Walmart's primary in-house financial services platform, with dedicated cash-back rates and Pay Later financing tied to Walmart and Walmart+ shopping. As of early 2026, the company said it had grown to more than 3 million monthly active users and had operated for "less than four years."
OnePay has expanded well beyond its original Walmart-centric footprint, adding a Synchrony-issued credit card program, a Klarna partnership for post-purchase installment financing (after Walmart's prior arrangement with Affirm), a personal-loans product powered by Upgrade, a stablecoin-payments partnership with Stripe/Paradigm-incubated blockchain Tempo, a workplace financial-wellness integration with Workday, and an internal AI operator called Arnab built on the Model Context Protocol. The company has signaled ambitions to build a broader consumer fintech franchise beyond serving only Walmart shoppers.
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