Klarna, a Swedish company known for its “buy now, pay later” (BNPL) services, has launched mobile phone plans in the US in collaboration with telecom startup Gigs.

The plans are priced at US$40 per month and include unlimited data, calls, and texts.

This initiative follows similar moves by fintech competitors Revolut and N26 as Klarna seeks to diversify its offerings. The company aims to become a broader financial platform, providing services beyond traditional finance.

This includes a “digital financial assistant,” according to CEO Sebastian Siemiatkowski.

Siemiatkowski noted the potential of AI in personalizing services for users. He mentioned that AI could help identify cost-saving opportunities by suggesting better pricing models for subscriptions.

Additionally, AI can streamline their implementation.

Klarna has encountered challenges in its goal to operate as a “super app,” a model that combines multiple services in one platform, which is popular in Asia.

Siemiatkowski acknowledged past issues due to underdeveloped technology. However, he expressed optimism about AI’s role in improving user experience.

🔗 Source: CNBC

🧠 Food for thought

1️⃣ The evolution of fintech: from single-purpose tools to super apps

Klarna’s ambition to become a super app reflects a broader industry shift away from specialized financial tools toward comprehensive ecosystems.

Looking at their trajectory since founding in 2005, Klarna has systematically expanded from a simple BNPL provider to a platform with banking, shopping, and now telecommunications services, mirroring the path taken by competitors like Revolut and N26 1.

This evolution parallels what happened in mobile banking adoption, where consumer engagement dramatically increased to checking financial apps 7+ times weekly by 2018, signaling growing comfort with managing multiple financial services through a single platform 2.

While Western super app adoption has lagged behind Asian markets, Klarna’s user base growth to 85 million (with 37 million in the US alone) suggests there’s significant appetite for more integrated financial services 3.

The key challenge isn’t technical capability but effective user experience. Klarna’s CEO acknowledged their previous super app attempt was “confusing for customers,” highlighting why simply adding features isn’t enough without thoughtful integration.