Walmart has ended a partnership with Capital One which made the banking firm the unique issuer of Walmart’s client bank cards.

The businesses introduced the change in a joint assertion Friday.

The businesses stated card-holders can nonetheless use their Capital One Walmart Rewards playing cards, which is able to proceed to accrue rewards except prospects are notified of a change. Capital One will retain possession and servicing of the bank card accounts.

Bentonville, Arkansas-based Walmart partnered with Capital One in 2019 after ending its earlier bank card take care of Synchrony Monetary. The rewards card was co-branded and supplied rewards like money again on in-store purchases and on-line orders set for pickup or supply, in line with a web site for this system. The deal was set to run by way of 2026. 

However Walmart ultimately soured on Capital One. In 2023, Walmart sued the McLean, Virginia-based firm, saying it needed to terminate the settlement as a result of Capital One was taking too lengthy to course of funds and mail alternative playing cards. The lawsuit additionally stated Capital One “admitted” it had failed to satisfy a few of Walmart’s service requirements. Capital One stated the service points didn’t represent grounds for the partnership to finish, and stated Walmart was trying to “finish the deal early.” 

A federal decide dominated in Walmart’s favor in March.

In a authorities submitting Friday, Capital One stated there are roughly $8.5 billion in loans within the present Walmart bank card portfolio.

It is not but clear when Walmart would possibly identify a brand new banking accomplice. The Related Press despatched an e mail message looking for remark to Walmart on Saturday.