Walmart-backed OnePay adds wireless plans to everything app
OnePay, a fintech company backed by retail giant Walmart, is expanding its range of services by launching its own branded wireless plan. This move is part of OnePay’s strategy to become a comprehensive financial services platform for its users, offering a wide array of solutions including credit and debit cards, high-yield savings accounts, buy now, pay later loans, and a digital wallet with peer-to-peer payments.
The new OnePay Wireless plan will be available through the OnePay app, with Gigs, a mobile services startup, as the partner for this initiative. For a monthly fee of $35, users will have access to unlimited 5G data, talk, and text on the AT&T network. The plan can be activated within the app with just a few clicks, without the need for credit checks or activation fees.
OnePay was created in 2021 by Walmart and venture firm Ribbit Capital with the goal of establishing itself as an American super app similar to popular platforms like WeChat or Alipay. By continuously expanding its range of services, OnePay aims to provide a convenient and seamless financial experience for its customers.
The collaboration between OnePay and Gigs to offer wireless connectivity is part of a growing trend among fintech companies to diversify their product offerings. Other companies like Klarna and Nubank have also ventured into providing mobile phone plans as part of their services.
Gigs CEO Hermann Frank highlighted the cost-saving benefits of integrating wireless plans into fintech services, which can ultimately result in lower expenses for consumers. By offering competitive pricing and modern features, these companies aim to disrupt the traditional telecom industry and provide value to their users.
According to a joint statement from Gigs and AT&T, there is a “growing pipeline” of U.S. companies planning to launch their own wireless plans in collaboration with the telecom giant. This trend reflects a shift towards a future where consumers can manage their cellular plans through various everyday apps, creating a more seamless and personalized experience.
In conclusion, OnePay’s introduction of the OnePay Wireless plan represents a significant step towards its goal of becoming a comprehensive financial services platform. By offering a wide range of services and partnering with innovative companies like Gigs, OnePay is poised to revolutionize the way consumers manage their finances and mobile connectivity.
