Even Klarna is launching a mobile phone service now

Klarna, the buy-now-pay-later service, is launching a mobile telephone service. The $40 per period telephone program is launching successful the US successful the “coming weeks,” offering unlimited 5G data, calls, and texts connected AT&T’s web — making it yet different MVNO successful an progressively crowded space.

MVNOs, oregon mobile virtual web operators, are companies that merchantability telephone work connected different carrier’s network. They’ve go much fashionable successful caller years, and see brands similar Mint Mobile, Visible by Verizon, Cricket Wireless, Xfinity Mobile, and present the Trump Organization’s caller telephone service.

Klarna says its work is powered by Gigs, a steadfast that’s expected to marque it easier for companies to motorboat their ain MVNOs. Users tin motion up straight from the Klarna app with nary contracts oregon hidden fees. Customers tin besides transportation their telephone fig to the work oregon get a caller 1 with “instant eSIM activation.” Physical SIM cards aren’t supported.

Klarna’s superior concern is its buy-now-pay-later (BNPL) service, which lets customers divided purchases into 4 abstracted payments. A survey from the Consumer Financial Protection Bureau from earlier this twelvemonth discovered that predominant BNPL users person much indebtedness than radical who don’t usage the services astatine all, portion a caller survey from LendingTree recovered that 41 percent of BNPL users said they paid precocious successful the past year. Last month, the Trump medication dropped the CFPB’s plan to taxable BNPL companies to stricter rules.

But with the motorboat of a mobile telephone service, it’s wide Klarna wants to determination beyond conscionable offering BNPL. On Wednesday, Klarna CEO Sebastian Siemiatkowski told CNBC that helium wants the app to service arsenic a “digital fiscal assistant” that uses AI to observe erstwhile you’re overpaying for services and “offer you some a proposition of a amended terms model, but besides with a click, instrumentality that and marque it a reality.”

For now, users successful the US tin join the waitlist for Klarna’s mobile telephone service. It’s readying to motorboat the work successful the UK, Germany, and different countries “soon.”