T-Mobile will launch the iPhone 5 on their network April 12.

And it comes with a twist. T-Mobile will offer the iPhone 5 for $99 down and payments of $20/month for two years.

A contract for ongoing talk and data service is not required.

John Legere, CEO of T-Mobile, said that T-Mobile no longer requires contracts and that they are “dead. Gone. No More.”

T-Mobile’s chief competitors, Verizion, AT&T and Sprint, currently require customers to sign a two-year service plan in order to receive discounts on smartphones. T-Mobile’s new plans are “radically simplified” since the company no longer features service contracts or discounts on devices.

T-Mobile talk/data plans begin with an unlimited amount of text and talk options and data downloads of up to 500 megabytes for $50 per month. A $60/month plan will included unlimited talk, text, and data downloads up to 2 gigabytes, and a $70 per month includes unlimited usage.

T-Mobile plans to extend its contract-less data plan to other devices such as the HTC One, which will be available for $99 and is “coming soon,” according to Legere.