Maik Retzlaff and Jenny Snell, from the Vaya team.

The plan comes with unlimited talk and text, and 1GB of data, for just $16 a month with no lock-in contract.

If customers are keen to shave a few extra bucks off, they can opt for the same plan and pay for 12 months upfront, amounting to just $14.50 a month.

The market trend for mobile plans is for greater data allowances however Vaya has predicated its strategy on appealing to those concerned about their hip pocket — and they think they’re on to a winner.

“A comparable plan with the big three can cost up to twice what our plan costs, so we really believe in Aussies shopping around to get the best deal because by doing their homework they can save pretty significant amounts of money,” the company’s Senior Digital Marketing Manager Jennifer Snell told news.com.au.

“Because it’s month-to-month plan you can actually optimise all the time,” her colleague Maik Retzlaff added.

He said the company was looking to accommodate those smartphone users who largely rely on their home and public Wi-Fi.

“Acknowledging you actually need more data you can jump onto our plan with 2GB,” which costs $22 a month, he said.

Alternatively, customers can pay $10 per extra GB required — something which has thankfully become an industry standard in recent times.

It’s the second big play to undercut the big three made by the mobile virtual network operator (MVNO) since it was picked up by amaysim at the beginning of the year for $70 million.

In May, the company sought to shake up the mobile service market by offering a price beat guarantee promising customers they would beat any non promotional mobile plan offer on the market, an offer that remains.

Vaya launched to offering this afternoon.Source:Supplied

Vaya uses the Optus 4G Plus network and the company is exclusively online meaning it has no retail expenses, allowing it to offer cheap deals to the Australian public.

All plans offered by Vaya do not involve lock-in contracts but the company recently began offering prepaid plans to customers to allow them to provide a slightly cheaper offering.

The company’s budget strategy is largely premised on research from Telsyte, which found that more than half of Australian consumers who are considering changing mobile service providers are driven by price.

“Of the estimated 25 million handheld mobile services in operation at the end of June 2016, Telsyte found more than half of handsets (51.7 per cent) are now on non-contract plans, leaving the door open for more movement between carriers,” the company said.

Ms Snell said the company has also placed a strong focus on the quality of experience for customers.

“At the beginning of the year when Vaya became part of the amaysim group, from our side we really wanted to learn a lot from amaysim who are real champions of the customer experience,” Ms Snell said.

The company had been paying close attention to monitoring its Telecommunications Industry Ombudsman (TIO) complaints and said while “there was still work to be done,” from April to June 2016 compared to the year prior, “complaints had dropped by 90 per cent,” Ms Snell said.

While the company has seen a sharp decline in complaints in that period, it follows a big increase which saw new complaints about the mobile service rise by more than 300 per cent in the 2015 financial year, according to the TIO’s latest annual report.

According to Vaya, its customer base increased by 174 per cent between July 2013 and June 2015.

And with such cheap offerings like their latest $16 a month plan, available from today, that number is likely to climb.