Verizon last week rolled out its own low-cost, unlimited wireless service in an effort to compete for budget-conscious U.S. customers.

Visible, a startup based in Denver, launched last week with the relatively quiet backing of the nation's largest wireless carrier, according to reports.

The service is currently offering an "early access program" in which prospective users must receive an invitation in order to join. Customers must bring their own device to the service, it currently doesn't work with Android phones and even recent incarnations of the iPhone must be unlocked and not tied to a specific carrier.

Should potential customers meet those prerequisites, however, they can simply download the Visible app, receive a SIM card in the mail as soon as the following day and get access to unlimited data, messages and calling for $40 per month without a contract.

The service operates on Verizon's network, which officials said would offer speeds of 5 Mbps and video streaming in 480p — which would not be slowed depending on how much data is consumed.

Users can also pay their bills either through credit cards or using payment apps such as Venmo or PayPal. The company said they can end the service with a simple text message and pledged "really, really good customer service."

Visible also vowed that support for Android phones "is coming soon," and pledged to work with "nonprofit startups" to provide "the financial, networking, and phone connections they need to expand their reach in their communities."

"These people are using mobile tech to change not only their community but the world," the company said on its website. "Our goal is to help them do it."