“Can Walmart's embedded fintech platform become the primary financial account for America's working and middle class by bundling banking, credit, investing, and crypto with retail rewards?”
Founded in 2019 as 'One', a neobank targeting the middle class via a unified account with smart spending features. Walmart's acquisition gave the company distribution at scale — pivoting from a standalone neobank to the embedded financial OS for Walmart's 1.6M US employees and millions of shoppers. Rebranded as OnePay in 2024, the company has rapidly expanded beyond deposits into investing, crypto, BNPL, and now stablecoin infrastructure — positioning itself as a full-stack consumer fintech platform anchored by Walmart's retail footprint.
OnePay discloses Coastal Community Bank / Lead Bank (sponsor banks) as its banking provider, with Coastal Community Bank and Lead Bank as its sponsor banks, according to the Embedded Finance Index 2026.
OnePay does not disclose a bank charter of its own; its banking services are provided through Coastal Community Bank and Lead Bank.
OnePay's cards are issued through Coastal Community Bank / Lead Bank (sponsor banks).
OnePay uses Persona for KYC and identity verification.
OnePay's crypto products run on Zero Hash.
OnePay's investing and wealth products are powered by Drivewealth.
The Embedded Finance Index 2026 maps 7 layers in OnePay's stack: Banking / BaaS (Coastal Community Bank / Lead Bank (sponsor banks)); Card issuing (Coastal Community Bank / Lead Bank (sponsor banks)); Lending (OnePay Advance (cash advance / short-term credit line), Credit Builder Loan ($1/month, via OneProgress Services LLC / Coastal Community Bank), OnePay Pay Later / Swipe to Finance (post-purchase BNPL powered by Klarna) and OnePay Later (installment payment plans)); KYC (Persona); Sponsor bank (Coastal Community Bank and Lead Bank); Crypto (Zero Hash); Investing (Drivewealth).
OnePay was founded by Bill Harris and Brian Hamilton and is founded in 2019, headquartered in San Francisco, CA / Sacramento, CA, USA.
OnePay has raised $26M+ (as of Series A) in total (latest round: Series B (acquired/backed by Walmart)).
Get a read on where your own stack stands against OnePay and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.