Walmart had leaned on Capital One as exclusive provider of its credit card since 2018, but sued the bank in 2023 so that it could exit the relationship.

OnePay, a fintech backed by Walmart, chose Synchrony to head up the credit-card program, the companies said Monday. Synchrony had handled Walmart’s store-issued cards for nearly 20 years before the retailer switched over to Capital One in 2018.

Owned by Walmart, fintech firm OnePay is partnering with financial services company Synchrony to issue credit cards. Synchrony, a leader in retail credit accounts, will make underwriting decisions and issue cards starting in a few months.