According to a CNBC report, the wireless plan will be available to customers starting Wednesday on the OnePay app.
Walmart-backed (WMT) fintech firm OnePay is reportedly rolling out its own branded wireless service as part of its strategy to evolve into an all-in-one platform for consumers.
According to a CNBC report, citing Gigs, a mobile services startup that has partnered with OnePay, the wireless plan will be available to customers starting Wednesday on the OnePay app.
According to the report, Gigs stated that the plan would cost $35 per month for unlimited 5G data on the AT&T network. Users can activate the plans directly through the app, with no credit checks or activation fees required.
OnePay was launched in 2021 by Walmart in partnership with venture firm Ribbit Capital, CNBC reported, adding that the firm has steadily expanded its services to transform into a U.S.-based super app, similar to international platforms such as WeChat and Alipay.
Retail sentiment on Walmart remained unchanged in the ‘bearish’ territory, with message volumes at ‘low’ levels, according to data from Stocktwits.
Embedding wireless plans into fintech services can lower AT&T’s customer acquisition costs—savings which can be shared with end users, Gigs CEO Hermann Frank told CNBC.
The report, citing Frank, said that the average consumer largely overpays for their phone bill. “We can now offer a product at a price point that is about half what the typical consumer pays right now, with all the modern features that you require,” Frank told CNBC.
Shares of Walmart have jumped over 8% this year and have soared nearly 27% in the last 12 months.
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