The news: Sezzle has launched Sezzle Mobile, per a press release.

Sezzle Mobile’s 5G mobile phone plans start at $29.99, including unlimited talk and text, HD streaming, and priority 5G data powered on AT&T’s network. Users can sign up for Sezzle Mobile within the Sezzle app.

Why this matters: Payment providers are racing to become the first super app for Western consumers. Buy now, pay later (BNPL) players like Klarna and OnePay have already debuted phone plans within the last year in a similar bid to make their platform a one-stop shop for financial and essential services.

Notably, Sezzle’s phone plan prices beats both Klarna and OnePay’s on affordability, which could help the smaller installment provider curry favor with consumers searching for value amid an enduring cost-of-living crisis. 

Competing against incumbent providers: While Sezzle offers competitive pricing, breaking into the mobile plan market will be a battle against industry stalwarts Verizon, AT&T, and T-Mobile.

We forecast that only 10.5% of the US population this year will use a wireless carrier or provider other than legacy triumvirate. 

Implications for fintechs: Plays to become mobile virtual network operators (MVNOs) are unlikely to connect with consumers unless apps already hold significant scale. Working to incentivize downloads of BNPL platforms on mobile with rewards and promotional deals could boost adoption.