According to the Zhitung Finance APP, due to being replaced by the soon-to-be-listed Swedish CNI Xiangmi Lake Fintech Index company Klarna, becoming the quick Crediting option for the USA retail giant. $Walmart (WMT.US)$ Known as the American version of "Huabei," $Affirm Holdings (AFRM.US)$the stock dropped nearly 15% on Monday, with a stock price of $42.80.

It is reported that Klarna will collaborate with Walmart-supported Consumer finance application OnePay to provide 'buy now, pay later' services for American consumers. Affirm is currently a partner of Walmart, but once the integration plan is launched this year, Klarna will become the exclusive choice for Walmart's installment loan services.

Klarna's CEO, Sebastian Siemiatkowski, stated that this deal allows Klarna to access millions of customers of this American retail giant, opening a new path for expansion in the USA, which is already one of Klarna's fastest-growing markets.

Affirm's stock price drop is also influenced by increased competition in the "Buy Now, Pay Later" Industry. Klarna, which is known for its "Buy Now, Pay Later" Business, filed for an initial public offering (IPO) with the USA Securities and Exchange Commission (SEC) last Friday, which will provide another option for investors in the "Buy Now, Pay Later" Industry. In addition, Affirm's competitor, a major payment giant in the USA, $Block (XYZ.US)$has added Afterpay installment financing options to its popular CASH App. Data shows that Affirm's stock price has dropped by 38% in the past month.

Editor/rice