Klarna is the latest financial services provider to enter the mobile market, collaborating with the Telecom-as-a-Service platform Gigs to launch a phone plan in several major markets, starting with the US.
The BNPL giant is offering its 25 million active users in the US a straightforward plan that includes uncapped, unlimited 5G data, talk, and text for $40 a month, with coverage on the AT&T network. Klarna highlights research indicating that half of Americans find switching phone plans too challenging. Users can transfer their existing number or obtain a new one, activating their phone plan seamlessly within the Klarna app—no calls, paperwork, or store visits required.
Premium and international plans are expected to launch later this year, alongside services in the UK, Germany, and other markets.
Sebastian Siemiatkowski, CEO of Klarna, stated, “Klarna has saved consumers time and money, and reduced financial worry for over 20 years. With mobile plans, we’re taking that one step further as we continue to build our neobank offering.”
The service incorporates an AI feature. Siemiatkowski explained, “If we have information suggesting you are overpaying for your carrier subscription or data, we’ll offer a suggestion for a better price model and allow you to implement that with a click.”
Hermann Frank, CEO of Gigs, remarked, “Now, consumers can expect a seamlessly integrated mobile experience that bundles premium connectivity with financial tools, all through the apps they already know and love.”
Klarna joins the ranks of German neobank N26 and Revolut, both of which have ventured into offering their own phone plans for subscribers.