Sprint has announced new compelling data plans: Ultimate talk and text messages for $40; and 2.5GB of LTE data for $60..

Right on heels of the Federal Communications Commission (FCC) approved AT&T’s acquisition of Leap Wireless, Sprint has revamped the prepaid with new no-contract offering, cheaper plans as compared to the last year.

Add to it “Spark” device that can access higher LTE speeds. The revamped plans are less expensive and more for the necessity to push the company’s prospects further in an intensely competitive market.

These plans will undoubtedly bolster the other two brands, Virgin Mobile and Boost Mobile that target different segments of the customer base. The launch is timed befittingly at a time when T-Mobile is doing the damage to the business of Sprint. T-Mobile also offers its own prepaid in MetroPCS. Let’s not forget that T-Mobile also came up with plans in January for low-end users who didn’t have access to banking services.

Earlier, Sprint offered a plan priced at $70 with unlimited voice, messaging and 3G data, of course within Sprint’s network. It also provided $50 basic phone plans with the identical features. In the new announcement, there’re two plans for the users.

First plan is a $45 plan that comes with unlimited talk and text messages, but without data. For that, one has to access a Wi-Fi network to check the email and surf the web. And then there’s a $60 plan that allows unlimited talk and text messages, and it also provides 2.5 gigs of high-speed data. Of course, Sprint will use its discretion to slow it down to 3G for specific uses such as streaming of videos.

Even if one considers only the price, the plans are cheaper than the options offered last year. Spark-enabled Samsung Galaxy S4 Mini, the LTE-capable Galaxy S3, and the 3G-enabled Moto G are the smartphones that can make the most of these plans. The Apple iPhone 4S will also be yet another option, but customers need to go for the costlier $60 plan with that device.

Incidentally, Sprint recently confirmed that it would stop selling the Galaxy S4 mini. It’s not yet clear what kind of bearing it’ll have on the device’s availability for the prepaid customers.

Let it be said that Sprint does much better with its prepaid compared to Virgin Mobile and Boost Mobile, its prepaid siblings. However, both of them have more enticing offers and numerous phone options. Moreover, the duo rides on the same Sprint network and are allowed to access LTE.

Moreover, there is a Buyback program introduced by the cellular that prepaid users will have a provision to participate into. This program lets them submit their older devices to earn credits toward a new device or even a service.

Right along with all this, Sprint also introduced Sprint Money Express, a mobile-banking service. Sprint Money Express is available on Android phones and lets users to transfer money, load checks and pay bills via the device. The service rides on a Sprint-style Visa prepaid, which is connected to the account.

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