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First your money, now your data: Klarna wants to become a global mobile network with unlimited 5G data, joining N26, Revolut - I just wonder how long before PayPal joins in

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Klarna launches $40 unlimited 5G mobile plan via AT&T

Klarna
(Image credit: Klarna)
  • Klarna wants to be your bank, your store, and now your phone network too
  • It’s new mobile plan offers unlimited 5G, but it's unclear how support will work
  • Unlimited data sounds great, but what happens when you need help or travel abroad?

Klarna, the fintech company known for reshaping the buy-now-pay-later space and once using an AI bot to do the job of 700 staff, is moving into a very different line of business: mobile connectivity.

The company is launching a mobile network that promises unlimited 5G data, talk, and text for $40 per month in the United States.

Klarna’s new service is being rolled out in partnership with Gigs, a company that describes itself as the “operating system for mobile services.”

Klarna moves beyond banking

“Klarna’s push into the mobile space marks the beginning of a new era for connectivity. Now, consumers can expect a seamlessly integrated mobile experience that bundles premium connectivity with financial tools, all through the apps they already know and love,” said Gigs CEO, Hermann Frank.

The plan includes unlimited 5G data that reportedly won’t be throttled, with coverage on AT&T’s nationwide network.

Klarna claims there are no hidden fees, no contract lock-ins, and a setup process that happens in minutes through the Klarna app.

But questions remain about long-term service reliability, especially when services like customer support and international roaming haven’t yet launched.

For now, only a basic unlimited plan is available, with premium options expected later.

“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,” said Sebastian Siemiatkowski, CEO and co-founder of Klarna.

“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.”

The offer seems to address common frustrations among US mobile users. Klarna’s internal research suggests half of Americans "believe switching phone plans is too difficult.”

The company touts its 25 million active users and high Net Promoter Score as reasons why it could disrupt telecom just as it did digital payments.

With N26 and Revolut already venturing into telecom, Klarna’s entry is part of a larger trend where neobanks try to wrap financial and connectivity tools into one platform. Surely it's only a matter of time before PayPal joins the fold.

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Efosa Udinmwen
Efosa Udinmwen
Freelance Journalist

Efosa has been writing about technology for over 7 years, initially driven by curiosity but now fueled by a strong passion for the field. He holds both a Master's and a PhD in sciences, which provided him with a solid foundation in analytical thinking. Efosa developed a keen interest in technology policy, specifically exploring the intersection of privacy, security, and politics. His research delves into how technological advancements influence regulatory frameworks and societal norms, particularly concerning data protection and cybersecurity. Upon joining TechRadar Pro, in addition to privacy and technology policy, he is also focused on B2B security products. Efosa can be contacted at this email: udinmwenefosa@gmail.com

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