Neobanks Move Into Telecoms – Why Revolut, N26 and Klarna Are Offering Mobile Plans

Digital banks are entering the mobile telecoms market, bundling eSIM-based plans with financial services in a bid to diversify revenue streams, boost customer loyalty, and attract younger users.

From fintech to telco

After reshaping the banking industry, neobanks are now targeting telecommunications, a mature market dominated by established players. The strategy aims to:

• Broaden service portfolios
• Attract younger consumers
• Increase retention of existing clients
• Create new revenue streams in a saturated fintech space

By operating as Mobile Virtual Network Operators (MVNOs), neobanks can build integrated ecosystems, enabling customers to manage both financial and connectivity needs through a single app.

The eSIM advantage

The shift is powered by eSIM technology:

• Same capabilities as traditional SIM cards
• No physical card needed, activation happens within the banking app
• Option to get a new number or port an existing one instantly

The new offers

Revolut

• Launched Mobile Plans in May 2025
• Unlimited calls, texts, and domestic data
• 20GB roaming in the EU and US
• €12.50/month for early sign-ups
• No contracts; operates as MVNO via partner networks

N26

• Introduced N26 SIM in Germany
• Data packages: 10GB (€13.99), 30GB (€19.99), 100GB (€34.99)
• Unlimited national calls/texts, free EU roaming
• Runs on Vodafone Germany’s 5G network; eSIM-only activation via app

Klarna

• US mobile plan: Unlimited 5G data, calls, texts for $40/month (AT&T network)
• Plans to expand to the UK, Germany, and other EU markets
• Recently partnered with Visa to launch a debit card, broadening banking services

Market challenges

The European telecoms market is largely controlled by established telcos. Neobanks are betting on:

• Lower prices (especially for roaming)
• Seamless one-app experience for financial and mobile services
• Digitally native audiences with low brand loyalty to traditional operators

Greece: Not yet in the game

So far, no official neobank telecom launch in Greece. However:

• eSIM adoption is growing quickly among Greek mobile operators
• Revolut and N26 already have strong customer bases in the country
• Greece could be a second-wave target, especially given tourism demand for affordable international roaming

Outlook

Neobanks’ move into mobile telecoms could reshape both industries. A single app handling bank accounts, payments, calls, and data is a powerful proposition — one that may push traditional banks and telcos to rethink their models.

Source: pagenews.gr