Klarna is known to many as being in the business of allowing people to buy items now and then spreading the payment over a period of time. Now, it has announced its entering into the mobile network space with the launch of its own mobile plan.
By launching its own mobile plan, Klarna is technically becoming a Mobile Virtual Network Operator (MVNO) like Google Fi, Mint Mobile, and Metro by T-Mobile. According to info provided in a press release, the service will launch first in the US in the coming weeks before expanding to other regions such as the UK and Germany later.
Klarna says that many Americans complain about the difficulty of switching phone plans, and it wants to change that. Its MVNO will be available with a single plan that costs $40 per month with coverage on AT&T's network. The plan will provide uncapped and unlimited 5G data, talk, and text.
Klarna says its mobile plan has no hidden fees and switching is seamless. It will also not charge users for activation and cancellation, and customers will be able to transfer their existing number if they don't want a new one. The process of switching to the mobile plan is done within the Klarna app and will not require visiting a store, making a call, or paperwork.
With more than 25 million active users in the US, Klarna believes it can 'shake up the telecom industry' with its mobile plan.