Klarna said it will become the exclusive buy-now-pay-later provider at Walmart in the U.S., replacing rival Affirm as the Swedish fintech company nears a potential initial public offering.

Affirm shares are tumbling after rival Klarna, which is preparing to go public in the U.S., said it is now the exclusive provider of Buy Now, Pay Later loans for Walmart.

Affirm had a rough day after news broke that Klarna will displace it as Walmart’s exclusive ‘buy now, pay later’ partner, just days after Klarna’s high-profile IPO filing. This morning, news broke that the fast-credit fintech company Klarna has deposed its competitor Affirm as Walmart’s exclusive provider of “Buy Now,