Klarna is making an unexpected move into the mobile carrier space

One could say there have been some unexpected additions to the MVNO space this week. On Monday, the Trump Organization announced the launch of T1 Mobile and the T1 Phone. Now fintech giant Klarna is also throwing its hat into the ring.

This week, Klarna announced its intentions of expanding into the mobile market. The launch of the company’s new mobile service will happen in the coming weeks and will be spearheaded by a single $40 unlimited plan.

That $40 plan will include:

• Unlimited 5G data, talk, and text
• Nationwide AT&T coverage
• No fees for activation or cancellation

You’ll also get to keep your number or get a new one with instant eSIM activation. Klarna adds that you’ll be able to activate your phone plan within its app, which should prove convenient for current users.

According to the buy now, pay later provider, “half of Americans believe switching phone plans is too difficult.” The company says it’s aiming to make switching to its plan “effortless” with “no hidden fees, flexible contracts, and a smooth set-up experience.”

US consumers will have the first go at the service when it launches. Klarna is directing those who are interested to join the waitlist. However, the service will expand to the UK, Germany, and other markets soon after. That will be followed up by the rollout of premium and international plans later this year.