Klarna Launches Waitlist for Mobile Phone Plan

• Buy now, pay later provider Klarna plans to start selling mobile phone plans in the U.S. in the coming weeks.

• For $40 a month, subscribers will get unlimited text, talk and 5G data through AT&T’s network, Klarna said in a press release.

• Other consumer brands have sold phone plans, including The Trump Organization and a group that includes Ryan Reynolds and the budgeting app Mint.

Klarna plans to start selling mobile phone plans within weeks.

The fintech firm—known for letting consumers break up purchases into four, interest-free payments—launched a waitlist for its mobile plan Wednesday morning. The plan will provide unlimited text, talk and 5G data within the U.S. through AT&T (T) for $40 a month, according to a press release.

“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,” Klarna CEO Sebastian Siemiatkowski said in a statement.

Buy now, pay later firms’ growth has slowed, prompting Klarna and its counterparts to start offering additional services to their customers. Some of these firms aspire to evolve into a digital ‘neobank’ by offering alternatives to traditional bank accounts, as well as debit and credit cards.

Other well-known players have gotten involved with mobile phone plans. Actor Ryan Reynolds became an owner of Mint Mobile, which bought and resold service provided by T-Mobile (TMUS). (T-Mobile purchased the brand last May, the provider said.) The Trump Organization announced earlier this week that it is also selling mobile phone plans.

Klarna has had a relatively eventful year. The company filed a registration statement with the U.S. Securities in Exchange Commission in March as it prepared to hold an initial public offering. Klarna tabled its plans in April as the White House imposed tariffs on several U.S. trading partners.

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