Swedish fintech giant Klarna has announced an exclusive partnership with Walmart to provide buy now, pay later loans, a service previously held by rival Affirm. This strategic move comes as Klarna is preparing for its IPO, while Affirm's stock dropped by 8% following the news. Klarna's majority stake in fintech startup OnePay will facilitate the loan services for Walmart customers. The partnership is expected to significantly increase Klarna’s market presence in the U.S., with projections indicating a 28% boost in gross merchandise value from just 5% of Walmart's U.S. volume.