Klarna is moving into the mobile phone market, mirroring similar moves by Revolut and the German challenger bank N26.
The Swedish financial company is launching its mobile plans first in the US, followed by the UK, Germany and other markets.
To attract customers, Klarna, which has over 25m customers in the US, says it’s launching with “one simple plan”, which includes unlimited 5G data, talk and text for $40 a month.
It also trumpets the simplicity of switching mobile plans to Klarna saying “users can transfer their existing number (or get a new one), and activate their phone plan in just a few taps within the Klarna app”.
Klarna is partnering up with US mobile startup Gigs, which helps brands including challenger banks, such as Nubank, launch mobile services, on the move.
Sebastian Siemiatkowski, CEO and co-founder of Klarna., said: “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.
“Consumers already know and love Klarna’s super smooth services and now, with one tap in the Klarna app, they’ll be up and running with their new phone plan — no hassle, no hidden fees, just great value.”
Klarna is primarily known for its BNPL services, but it also offers services to consumers and retailers within payments, social shopping, and personal finances.
Earlier this year, N26 said it was planning to offer mobile phone contracts while Revolut also announced plans to launch mobile plans in the UK and Germany.
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