Fintech Meets Telecom
OnePay, the Walmart-backed fintech firm, is expanding into wireless service with the launch of OnePay Wireless, CNBC has learned. Starting Wednesday, users can sign up directly through the OnePay app for a plan priced at $35 per month. The package includes unlimited 5G data, talk, and text on AT&T’s network, according to Gigs, the mobile services startup powering the offer.
The wireless plan can be activated with a few taps in the app, requiring no credit checks or activation fees. Gigs CEO Hermann Frank said the model helps AT&T lower customer acquisition costs, allowing for more affordable plans. “The average consumer largely overpays for their phone bill,” Frank said. “We can now offer a product at about half the typical cost, with all the modern features you require.”
Building a U.S. ‘Super App’
Launched in 2021 by Walmart and venture firm Ribbit Capital, OnePay has steadily expanded its ecosystem of services. The app already offers debit and credit cards, high-yield savings accounts, buy now, pay later loans, and a peer-to-peer digital wallet. The addition of wireless service underscores OnePay’s ambition to replicate the multifunctional “super app” model popular in Asia with platforms like WeChat and Alipay.
The move mirrors similar strategies from fintech peers Klarna and Nubank, which have also added mobile connectivity to diversify their offerings and increase customer stickiness.
Industry Implications
AT&T’s involvement reflects growing telecom-fintech partnerships. By embedding wireless plans into financial apps, companies can bundle services, improve retention, and generate new revenue streams. “The future is one where consumers can buy and manage their cellular plans from any number of personal or workplace apps they use every day,” said William Traylor, AT&T’s vice president of emerging business platforms and partnerships.
OnePay declined to comment beyond confirming the launch, but Gigs noted there is a “growing pipeline” of U.S. firms expected to introduce their own branded wireless plans. For Walmart’s fintech arm, wireless connectivity could be another step toward becoming an all-in-one platform for American consumers.
