Cost-conscious consumers and those locked into contracts cannot easily get the latest smartphones with typical mobile phone purchase and service plans. SmartPay unlocks those customers to help drive smartphone revenues and upgrade your installed base.
A lease-purchase plan divides the cost into affordable monthly payments. There are no long-term contracts and consumers can upgrade their smartphones at any time before or at the end of their term*. You are paid in full at the time of purchase, reducing the risk of nonpayment.
Consumers complete a short online application in-store or at home, and provide only the last four digits of their social security number and date of birth to the sales associate. This data is used with the smartphone’s serial number to retrieve a virtual debit card number. The virtual debit card number is then entered into the POS system and the retailer collects the entire retail price of the smartphone along with any applicable tax. The consumer gets a new phone and receives a confirmation email.
* A small fee can apply if the phone is upgraded before the end of the lease term.