The news: OnePay will deploy Swipe to Finance, which lets customers retroactively turn OnePay debit card purchases into installment plans within the OnePay app. Klarna will facilitate the buy now, pay later (BNPL) plans, per a press release.

It’s unclear whether OnePay users will have access to both pay in 4 and interest-bearing loans post-purchase or how long after purchase cardholders can convert purchases to installments.

How we got here: OnePay has been deepening its buy now, pay later (BNPL) capabilities with strategic partnerships, starting with an Affirm tie-up that terminated after OnePay inked a deal with Klarna in March 2025. 

Why this matters: Consumer momentum for BNPL is expected to build through H1 2026: 56% of US consumers anticipate taking out at least one loan in the next six months, and a whopping 19% expect to apply for three or more loans, per Lending Tree. Increasing the flexibility of its BNPL product positions OnePay to score more of this volume. 

Competitor analysis: Klarna’s post-purchase BNPL mirrors issuers’ credit card-linked installments and some of its BNPL fintech peers, like the Affirm Card and Cash App Afterpay. 

Making Swipe to Finance available to OnePay’s cardholders may foreshadow a coming update for the Klarna Card, which still lacks this feature—making Klarna one of the few major players without the capability, along with PayPal Pay Later. 

Implications for retailers: As the cost-of-living crisis wears on, consumers are looking for more flexible ways to finance essential purchases at the point-of-sale. 

Klarna and OnePay hinted at deeper integrations to come. Tie-ins with wallets and other payment providers—rather than direct merchant deals—were a key development in the BNPL space last year, but BNPL providers have to strike a balance between expanding their reach and eroding the value of their proprietary apps. Whatever features Klarna opts to share with OnePay could shape future wallet-provider deals this year.