Zopa, a peer-to-peer lending service, has recently partnered with Unshackled to allow for two-year loans to be offered as a means of financing a new smartphone in the UK. The partnership will see new loan decision technology be utilized to offer personalized quotes within seconds. This allows for consumers to obtain fair, manageable phone financing plans rather than go through service providers or banks.
Sharing culture is showing signs of expanding in new, innovative ways almost every week, so this new partnership comes as a logical next step for both brands. The two-year loans that the partnership will offer will enable consumers to get their hands on the latest smartphone without having to be strapped to a service provider for several years.
Smartphone Financing Plans
Zopa Partnered with Unshackled to Offer Two-Year Loans for Smartphones
Trend Themes
1. Peer-to-peer Phone Financing - The partnership between Zopa and Unshackled establishes peer-to-peer loans as a means for consumers to finance their smartphones.
2. Instant Personalized Loan Quotes - The new decision technology utilized by Zopa and Unshackled provides instant personalized financing quotes, changing traditional loan application processes.
3. Disrupting Telecom Provider Financing - Zopa and Unshackled's smartphone financing plans disrupt the traditional model of service provider or bank financing for phones.
Industry Implications
1. Fintech - The partnership between Zopa and Unshackled demonstrates a FinTech solution to phone financing.
2. Telecom - Zopa and Unshackled's financing plans disrupt the traditional financing approach of telecom providers.
3. Peer-to-peer - Zopa and Unshackled's partnership establishes peer-to-peer loans as a viable option for phone financing.