Key Points
- Klarna is now selling its unlimited mobile phone plans in the U.S. for $40 a month.
- The move is part of a larger plan to turn Klarna into a financial “super app” that offers multiple services.
- CEO Sebastian Siemiatkowski believes AI is the key to making this super app successful, unlike past attempts.
- The goal is for AI to act as a personal “financial assistant,” offering users suggestions to save money. Klarna faces a challenge in the U.S.
Klarna, the company that pioneered the “buy now, pay later” trend, is making a bold new move: it’s now selling mobile phone plans in the U.S. Through a partnership with a startup called Gigs, Klarna will offer unlimited data, calls, and texts for $40 a month.
However, this isn’t just about entering the phone business. The new phone plans are part of CEO Sebastian Siemiatkowski’s broader vision to transform Klarna into a financial “super app”—a one-stop shop for various services. He admits that a previous attempt to do this failed because it was too confusing for customers.
This time, the CEO is betting heavily on artificial intelligence to make the super app dream a reality. He believes AI can create a truly personalized experience for each user, acting like a “digital financial assistant.” For example, the app could use AI to notice you’re overpaying for your current phone plan and then offer to switch you to a cheaper one with a single click.
Siemiatkowski says that when they first tried this, the technology just wasn’t ready. Now, he thinks AI is mature enough to deliver on the promise.
The company still faces a major challenge, especially in the U.S., where most people are familiar with Klarna primarily for its installment payment plans. To succeed, Klarna will need to convince American users that it can be more than just a way to split payments for online shopping.
