Revolut has unveiled plans to launch MVNO services in the UK and Europe.

The fintech company announced that it plans to offer monthly mobile plans with unlimited calls, texts, and data, plus a 20GB roaming allowance across Europe and the US.

Revolut said it will launch the services in the UK and Germany first, with more European markets to follow.

The company’s announcement comes amid reports earlier this week that Octopus Group, best known for providing energy services, is also lining up a move into the MVNO market.

A mobile virtual network operator (MVNO) is a mobile network carrier that offers services without owning its network infrastructure.

Revolut noted that it will confirm operator partners later this year for each market.

The company started to offer eSIMs for its customers last year to support users traveling abroad. Revolut claims that customers have since created millions of data plans that have been used in more than 100 locations worldwide, while eSIM is now Revolut’s number one non-banking product in terms of usage.

Mobile plans will be integrated into the Revolut app, confirmed Revolut, while users will be able to pay for their plan with their RevPoints, Revolut’s loyalty scheme.

“The massive success of our eSIM product launch has proven mobile offerings are ripe for disruption. In our view, consumers are suffering with traditional network offerings due to a lack of transparency with hidden fees, painful customer experience, and old, difficult-to-navigate UX,” said Hadi Nasrallah, general manager, telco and retail director at Revolut.

“We’re looking to solve all three, providing Revolut customers with a tech-led experience, the best value, and no fixed contract commitments. It’s yet another step for Revolut into the consumer telecommunications arena where innovation is desperately overdue and we look forward to bringing this update to consumers in more markets soon.”

Luke Kehoe, industry analyst at Ookla, said the move “marks a logical next step in Revolut’s efforts to expand its service offerings and diversify its recurring revenue pool.”

“Revolut’s entry into the MVNO space replicates its proven disruptor strategy – one that has already shaken up traditional banking in Europe through a sharp focus on simplicity, customer satisfaction, and operational efficiency,” said Kehoe.

“These same principles have enabled fintechs in other markets, most notably Nubank in Brazil, to successfully make a leap into the MVNO business and differentiate themselves from incumbent mobile operators.”