In a strategic bid to deepen its footprint in consumers’ daily lives, Klarna—best known for revolutionizing “buy now, pay later” (BNPL) services—has launched a wireless phone plan in the U.S. This move heralds a pivotal shift: the fintech giant is evolving beyond its core financing platform into a full-fledged neobank, integrating core financial services with telecom offerings. Klarna mobile phone plan

The announcement aligns with a growing trend of fintech companies diversifying to capture new revenue streams and build stickier customer ecosystems.

The Plan & Tech Behind It

• One rate, all access: For a flat $40/month, Klarna customers receive unlimited 5G data, calls, and texts across the U.S. via AT&T’s robust network
• Powered by Gigs: The MVNO service is enabled by Gigs, a Google-backed startup that provides turnkey infrastructure for digital brands to offer mobile services
• App-based convenience: Users can sign up, activate via eSIM, switch numbers or keep their old one—all within the Klarna app, eliminating physical SIMs, paperwork, or store visits.

Why Klarna Is Doing It

• Expanding the neobank vision: CEO Sebastian Siemiatkowski described mobile connectivity as “the next step” in the company’s ambition to become a holistic digital bank.
• Diversifying revenue: With BNPL growth slowing under regulatory pressure and backlash around consumer debt, Klarna is tapping new verticals to reduce dependency on its core installment services.
• Leveraging scale: Boasting over 25 million U.S. users and a stellar Net Promoter Score of 81, Klarna is well-positioned to disrupt the crowded MVNO market with its trusted brand and minimalist user experience.

Market Context & Trends

• MVNO boom: The U.S. mobile virtual network operator market is projected to grow from $14.8 billion in 2025 to $20.8 billion by 2030 reuters.com.
• Fintechs going telecom: Competitors like Revolut, N26, Nubank—and even lifestyle brands like Mint Mobile—are launching mobile services, validating the model.
• Tough competition ahead: Analysts warn that while the trend is promising, heightened competition may cause some fintech MVNOs to falter.

What’s Next

• Pilot in the U.S. first: Klarna’s $40 unlimited plan rolls out in the U.S. “in the coming weeks,” with a waitlist already open.
• Global expansion planned: Following the U.S. launch, Klarna intends to bring mobile service to the U.K., Germany, and additional markets later this year.
• Future features ahead: Premium and international plans are expected later in 2025, hinting at tailored global offerings and multi-tier service options.

Alertify’s Takeaway about Klarna mobile phone plan

Klarna’s entry into mobile phone plans is more than an add-on—it’s a calculated leap toward building a seamless financial-tech ecosystem. By bundling connectivity with banking and budgeting tools, Klarna aims to become a daily essential for consumers. If executed well, this integration could redefine the fintech playbook. Still, with fierce MVNO competition and regulatory headwinds, its success will depend on user adoption, pricing discipline, and service differentiation.