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.

Swedish fintech Klarna will become the exclusive buy-now-pay-later provider at Walmart in the U.S., replacing rival Affirm. Shares in Affirm fell 7% in premarket trading. Dig deeper:

Affirm Holdings will lose its exclusive role providing installment loans for Walmart as Klarna partners with OnePay. Yesterday, Goldman Sachs analyst lowered AFRM's price target from $90 to $50, then raised the forecast to $56 reflecting the updated impact of loss of the Walmart relationship.