Swedish fintech company Klarna, renowned for its buy-now-pay-later services, is making a significant move into the U.S. mobile market. In the coming weeks, Klarna will launch an unlimited mobile phone plan priced at $40 per month, offering consumers a seamless and hassle-free experience directly through the Klarna app.
Klarna’s Entry into Mobile Providers
Klarna, known for its buy‑now‑pay‑later services, is entering the U.S. mobile virtual network operator (MVNO) market with a $40/month unlimited 5G plan. Launching via its app in the coming weeks, the plan offers unlimited talk, text, and high-speed data on AT&T’s nationwide network.
This move places Klarna alongside fellow fintech firms like Revolut, N26, and Nubank in diversifying into telecom services — a trend gaining traction as companies reimagine the boundaries of digital banking.
Why a Fintech‑Powered MVNO?
Ecosystem expansion: Sebastian Siemiatkowski, Klarna’s CEO, calls mobile connectivity “a natural next step” in its neobank evolution.
Built on trust: With over 25 million U.S. users and a stellar Net Promoter Score (81), Klarna can seamlessly introduce telecom services through its existing financial app.
Recurring revenue stream: Monthly mobile subscriptions offer stability compared to the project-based revenue of BNPL, aligning with Klarna’s long-term growth plans.
Powered by Gigs + AT&T
Klarna’s MVNO launch is enabled by Gigs, a startup backed by Google that equips brands to offer mobile services via a Layer‑2 solution. Gigs partners with AT&T’s infrastructure, allowing Klarna to package unlimited 5G connectivity without managing its own physical network.
Hermann Frank, Gigs’ co‑founder, calls this a “radically better experience for US consumers”, emphasizing streamlined app-based activation, eSIM setup, and no hidden fees.
What Can You Get From Klarna’s $40 Mobile Plan
Unlimited high-speed 5G data, calls, and texts
Nationwide coverage on AT&T’s network
Instant activation and easy switching in-app
eSIM support, number porting, and no contracts
No activation or cancellation fees
Fully managed through Klarna’s existing user interface
Premium and international mobile plans are expected later this year, with U.K., German, and other market expansions on the roadmap.
Market Reaction: A Gamble with Strong Upside
MVNO market growth: Research forecasts the U.S. MVNO market to grow from $14.8 billion in 2025 to $20.8 billion in 2030.
Industry buzz: Analysts expect intensified competition as fintech brands enter telecom. But success will depend on execution and retention.
Competitive edge: Klarna’s strong brand, seamless app integration, and no-contract model differentiate it from legacy MVNOs like Mint Mobile and Xfinity Mobile.
Risks and Considerations
Margin pressure: MVNO margins are thin; Klarna will need scale and operational efficiency to sustain profitability.
Service quality dependency: Since AT&T provides network infrastructure, Klarna’s customer experience will depend heavily on that relationship.
Regulatory oversight: Climbing telecom and BNPL regulatory scrutiny means Klarna must navigate compliance carefully as it expands into financial services.
From BNPL to Neobank
Klarna’s phone plan is part of a broader strategy to evolve from BNPL into a full-service neobank. Recent moves — like piloting a Visa debit card — show its intent to expand payments, banking, and now connectivity services.
By anchoring multiple recurring services in its app, Klarna aims to increase customer engagement and lifetime value — positioning itself to compete with digital-first challengers like Chime and Revolut .
So What’s Next?
Rollouts: U.S. launch in the coming weeks, followed by U.K. and Germany later this year.
Plan expansion: Premium and international tiers are expected ahead of broader rollout.
IPO drive: Klarna’s differentiation in fintech and telecom could boost investor confidence in its expected 2025 IPO, potentially worth $12–15 billion gigs.comainvest.com.
Klarna’s entry into the U.S. mobile market underscores fintech’s evolving role in consumer services. Bundling unlimited 5G mobile connectivity for $40/month—seamlessly integrated into its app—illustrates a bold push toward full-stack financial and lifestyle services. Execution will prove key, but this move could reshape how consumers experience banking and telecom together.
