What's going on?

Walmart pulled on a hoody and started using the word �ideate� earlier in the week, because the retailer announced it�s launching its very own fintech startup.

What does this mean?

Walmart has struck up a partnership with Ribbit Capital � the venture capital firm behind fintech all-stars Robinhood, Affirm, and Credit Karma � to roll out some new, as-yet-unspecified fintech products. Then again, this isn�t entirely new ground for the retail giant, which already offers a variety of financial services like credit and debit cards. In fact, that might be why it�s edging into the space: it already has a treasure trove of data on how its millions of customers manage their money.

Why should I care?

The bigger picture: Bank to the future.

Walmart�s been expanding beyond its retail business for a while now: it�s ventured into both the health and insurance markets, as well as teamed up with Microsoft to bid on social media giant TikTok. The retailer�s fintech flirtation, more specifically, comes after new US regulations made it easier for non-banks to get into the lending business. It might not be the only company limbering up to give traditional banks a run for their money, either: Big Tech reportedly has its eye on the sector too.

Zooming out: Tech, tech, tech, boom.�

Fintech isn�t just big in America: online payments firm Checkout.com has just been crowned Europe�s most valuable private company. It was valued at $15 billion in its latest financing round � almost three times as much as it was worth seven months ago. The firm � together with America�s Stripe and the Netherlands� Adyen � dominates a digital payments industry that�s been booming amid the recent online shopping craze. And you might be able to benefit from its astronomic rise soon too: the company has said it�s eventually planning to list on the stock market.