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Add another unique service to Klarna AB’s product roster. The buy now, pay later specialist is adding mobile-phone service to its product list.
A waitlist is available now, with a launch expected in coming weeks, Klarna says. The United Kingdom and Germany are expected to follow. Klarna hopes to tap its 25 million active U.S. users with its $40 per month mobile plans that include unlimited calls, texting, and data. The service will use the AT&T network, with the Klarna service operating as a mobile virtual network operator. That enables organizations to resell access to a carrier’s cell network. Mint, which uses actor Ryan Reynolds as a spokesperson, is an MVNO. Reynolds also is an investor in payments provider Nuvei Corp.
Klarna says its mobile plans use the Gigs MVNO system. San Francisco-based Gigs Wireless LLC, founded in 2020, also provides the payments tool for the cell-phone service. The Klarna service uses an electronic SIM card, meaning a smart phone can be provisioned over the air.
Part of Klarna’s motivation for offering a cell-phone plan is its ambition to become a full-service neobank, one that offers more than traditional bank products and services. Klarna says it is stepping in where traditional banks fall short by helping customers save on their everyday bills.
The new venture also will create a new revenue stream, as Klarna expects a strong uptake among its customer base, especially so because the U.S. market is its largest by revenue and number of customers.
Sweden-based Klarna may have launched in the United States as a BNPL provider, but it has since diversified. In 2018 its BNPL app arrived, and in 2024 it launched a subscription service called Klarna Plus for $7.99 per month. And, earlier in June, it said it is testing a debit card in the United States with Visa Inc.
