NRTC Mobile Solutions, one of the nation’s leading mobile virtual network operators (MVNO), has begun working with Splitit, the Atlanta-based developer of a platform to enable installment payments. The new partnership will make it possible for all Mobile Solutions resellers to offer consumers convenient installment plans for smartphones, tablets and other mobile devices. Mobile Solutions will integrate the Splitit system with its PHOENIX back-office system.
The new installment capabilities will give clients of Mobile Solutions (also known as Telispire) a tool to compete with large, national mobile carriers more effectively. "The growth of 5G has many looking to upgrade devices, giving MVNOs a simple option to offer subscribers a great way to pay over time without the complexity of traditional financing options," said Craig Andrew, Mobile Solutions’ chief operating officer in a press release.
The Splitit Installments-as-a-Service platform allows consumers to divide their payments over time from three months up to 24 months. The consumer pays the first installment at the point purchase with an existing credit card. Then Splitit charges the same card every month until the balance is paid.
The integration of the Splitit feature with PHOENIX allows all Mobile Solutions resellers to offer installment plans without having to install additional technology on their end or form complex relationships with third-party lending companies. Installment payments for devices complements existing automated billing, marketing support, white label options and nationwide cellular coverage the turnkey Mobile Solutions already provides.