Financial services provider for shoppers and merchants, Affirm Holdings Inc (NASDAQ:AFRM) competitor Klarna announced a partnership with OnePay to offer installment loans at Walmart Inc (NYSE:WMT). The exclusive deal with Walmart means Affirm will no longer provide loan installment services for the retailer.

BofA Securities analyst Jason Kupferberg said the decline in Affirm Holdings (AFRM) stock after a new Walmart/Klarna partnership is overdone, and Affirm should be able to manage any potential loss in business.

Shares of Affirm Holdings, Inc. AFRM dropped 4.2% yesterday as Swedish fintech Klarna announced it will be the exclusive provider of buy now, pay later (BNPL) loans for Walmart Inc. WMT in the United States this year.