(PRWEB) February 29, 2012
Leading provider of point of sale financing, ThinkSmart Limited (ASX:TSM), has launched Fido - a simple finance product that provides Australian consumers with no-interest-ever payment plans across a range of retail categories, including homewares, sports equipment, auto accessories and jewellery.
Commenting on the launch, ThinkSmart Executive Chairman and CEO, Mr Ned Montarello, said, “The launch of Fido is a major step forward in our strategy to diversify our business through expanding our addressable market and growing our distribution. While we have a strong presence in the technology leasing sector, the move into the ‘no-interest-ever’ market opens up many new retail categories and distribution partners.”
Leveraging the success of the patented QuickSmart technology, Fido enables consumers to apply and be pre-approved for credit online. Fido payment plans are designed to be straightforward and uncomplicated. Fido the dog and the phrase “The smarter way to pay” encapsulates the convenience and simplicity of the payment plan for consumers in a fun and accessible way – “What can Fido get you today?”
“Our patented QuickSmart technology enables customers to get approved online and in store for purchases in a matter of minutes. This is a real competitive advantage compared to other phone based or paper based processes. Our online approval process will become even more valuable as we introduce e-signature capability later in the year, positioning us very strongly as multi-channel retailing continues to grow”, said Mr Montarello.
The value proposition for retailers lies in the ability of the Fido product to sell an increasing volume of high margin products by making the purchases affordable for consumers. At launch, you can shop at over 600 retailers Australian wide using Fido’s simple “no-interest-ver” payment plans at these stores:
- Automotive Holdings Group
- Bevilles (includes online)
- Golf Plus (includes online)
- Nu Energy
- The Jewellery Group (Zamels)
- Camera House
- Reef Bikes
- Guitar World
Retailers also benefit from improved processes and greater efficiency as customers can arrive in store with pre-approval to purchase or can obtain approval in-store in a matter of minutes.
The benefits of Fido payment plans for the consumer are:
Fido is interest-free finance.
- 10% deposit.
Consumers pay 10% of the purchase price in store.
- Take it home today.
Enjoy your purchase straight away.
- Flexible payment terms.
Consumers can choose from 6, 12, 18 or 24 month payment plans, giving them the flexibility to choose a payment plan that suits their circumstances and budget.
- No pay-out fees
With Fido there are no pay-out fees. Consumers can pay off their payment plan before the end of their term at no additional cost.
- Low fortnightly repayments.
Fido payments are made fortnightly, allowing consumers to spread the cost of their purchases.
Customers can now get finance and payment plans for products such as golf clubs, vacuum cleaners, rings, earrings and solar energy panels. A consumer can now purchase a diamond ring from Bevilles Jewellers for only $155/fortnight, for example.
To celebrate the launch of Fido, consumers can win an iPad2 by entering a competition on our Facebook page and telling us what they are saving for in 2012.
ThinkSmart has also launched ThinkSmart Business Leasing in the UK market. This is a new business to business leasing product for the equipment rental market. More information about ThinkSmart Business Leasing can be found at: http://www.thinksmartbusiness.co.uk/SME-Home.
Retailers can become a retail partner with Fido online at: http://www.thinksmartmarketplace.com.au/retailaffiliateprogram
Ned Montarello, CEO nightingale communications
ThinkSmart Limited +61 (0)3 9614 6930
+61 (0)8 9463 7401
Tim Williamson +61 (0)458 680 130
ThinkSmart is a leading provider of point of sale financing solutions in Australian and the UK. The business processes high volumes of low ticket value consumer and small business finance transactions quickly and efficiently. ThinkSmart has a competitive advantage through its patented QuickSmart technology which enables online credit approval in just a few minutes.
ThinkSmart’s suite of financing and rental products are sold under the RentSmart, iSmart, SmartPlan and Infinity brands. Products are available in retail stores, online and in multi-channel environments. The business has a strong presence in the personal computer, office equipment and consumer electronics markets and is expanding into new product categories.
ThinkSmart has partnerships with market leading retail groups including JB Hi-Fi, Officeworks, Dick Smith and Dixons Group in the UK. ThinkSmart’s products are also available to thousands of retailers through the ThinkSmart Marketplace which provides a fast and efficient online product and payment service to affiliated retailers.
ABN 24 092 319 698
Level 1, 1260 Hay Street
West Perth, 6005
P +61 8 9463 7500
F +61 8 9463 7555
European Head Office
7th Floor, Oakland House
Talbot Road, Old Trafford
Manchester, M16 0PQ
P +44 161 333 2422
F +44 161 333 2426