- Walmart is weighing a bid from Capital One for its credit card business, Bloomberg reported Thursday.
- Synchrony, the retail giant's current credit card partner, is also bidding, the report said.
- A substantial part of Walmart's criteria for the deal is an expansion of the retailer's mobile payments offering, the report said.
Walmart has narrowed the competition for its credit card business to bids from two lenders, Capital One and its current card partner Synchrony Financial, according to a report by Bloomberg on Thursday.
The retail giant wants its credit card partner to support its aspirations for Walmart Pay, with a substantial part of that being an expansion in its offering of mobile payments, the report said.
Shares of Synchrony fell nearly 3 percent in trading following the report, while Capital One stock rose slightly.
Read the full Bloomberg report here.