Synchrony Financial said on Thursday that its store credit card program with Walmart will not be renewed, ending a near two-decade long partnership.

Shares of the company (SYF.N), which issues private-label cards as well as co-branded cards, fell 10 percent to $30.15 in late-afternoon trading.

Synchrony’s strategic options for its Walmart cards program, including a possible sale, is expected to fully offset the impact to its earnings per share, according to a regulatory filing from Synchrony.

Earlier, the Wall Street Journal reported, citing people familiar with the matter, Walmart (WMT.N) has chosen Capital One Financial Corp as the new issuer of its store credit card, ending a partnership with Synchrony Financial.

Under the deal, Capital One will issue credit cards that can only be used on Walmart's website and stores, as well as co-branded cards that can be used almost anywhere else, the Journal reported.

Synchrony, which issues private-label cards as well as co-branded cards, has been Walmart's exclusive credit-card issuer since 1999.

Walmart, Capital One and Synchrony were not immediately available for comment.