April 23 (Reuters) - Walmart's ( WMT ) majority-owned

fintech startup One has started offering buy now, pay later

(BNPL) loans for big-ticket items like electronics and power

tools at some of the retailer's U.S. stores, CNBC reported on

Tuesday.

One will be going head-to-head with some of Walmart's ( WMT )

existing BNPL partners like Affirm, who helped the retail giant

generate $648 billion in revenue last year, the report said.

Ads for both One and Affirm are vying for consumer attention

in the retail chain's electronics aisles, CNBC said in the

report, citing a recent visit.

Customers can avail the facility to buy electronics,

jewelry, power tools and automotive accessories, but items like

groceries, alcohol, and weapons will not be eligible.

BNPL loans, which shoppers repay in a handful of

installments, have been steadily gaining popularity and drove

$75 billion in online spending in 2023, according to Adobe

Analytics.

BNPL providers like Affirm and One partner with retailers

like Amazon.com ( AMZN ) and Walmart ( WMT ) to finance customer

purchases, earning a commission on the sale and interest on the

loan.

Affirm has also stepped outside the competitive e-commerce

market, offering BNPL services for elective medical procedures.

One and Walmart ( WMT ) were not immediately available to comment.