Goal: Offer customers a simple way to pay over time that's also built on honesty and transparency

Ting—the mobile service provider built on fairness and clarity—began offering financing to help consumers fit advanced smartphone purchases into their budgets. Ting’s customer-first philosophy led the company to partner with Affirm, the honest finance company, whose strong values aligned with Ting’s own.

Ting, which operates on a BYOD (bring your own device) business model, sells the latest devices on its website— including the ever-popular iPhone. And with the latest iPhone 8 retailing from $699 and the iPhone X from $999, Ting made it a priority to offer customers the option to finance these incredible new smartphones.

The tech giant has long been well-known for its high standards for customer experience, even through carrier channels. Ting believed delivering honest and straightforward financing options was core to reinforcing that for its customers, as well.

The need to align payments with a positive customer experience

“Apple customers love their devices — just watch the Dear Apple letters shared during the recent keynote and try to not tear up,” says Justen Burdette, Ting’s Vice President for Product and Strategy. “We believed supporting Apple customers required us to dig even deeper on our own customer focus because it’s impossible to imagine Apple requiring anything less than partners that sincerely value and respect their customers — and that make business decisions that relentlessly honor that commitment.”

Affirm’s non-predatory lending eliminates hidden fees and compounding interest from the equation, and provide customers full clarity of their payment terms upfront. And, stemming from the brands’ joint emphasis on fairness, a Ting customer who finances with Affirm still can still pay off their purchase over time even if they opt to switch networks, something most carriers don’t allow.

“Certainly taking advantage of your customers with fine-print financing terms is not compatible with the customer experience that we believe Apple would expect its partners to deliver,” added Burdette, noting the significance of Affirm’s emphasis on transparency.

Sales skyrocketed following release of iPhone 8 and X

Ting also worked with Affirm to offer a 24-month payment option, in order to provide mobile customers the terms they are accustomed to and expect from bigger carriers.

Since introducing financing with the iPhone, Ting’s sales have skyrocketed. Compared to the four month period preceding the Apple Financing Launch, Ting’s average number of weekly orders was nearly five times greater in the months following the launch. And, following Apple’s release of the iPhone 8 and iPhone X, the boost was even more pronounced: Ting saw nearly six times more orders in the months following the release of these devices, compared to the pre-Apple Launch period.

Financing approval rates have also improved following Ting’s Apple Launch: 11% more customers are being approved for 0% APR financing on their smartphones. Moreover, Ting has seen a 25% boost in their average order values. With financing options, consumers across the U.S. gain the purchasing power to buy the phone they want and need.

“In the past, I think it was really tough for customers to be able to spring for that device that they were really excited about—they might have to raid their vacation fund to be able to buy it,” explained Burdette. “That’s the great thing about the partnership with Affirm— especially now having the full range of the iPhone family. Customers can really choose the device that they want.”

Customers have overwhelmingly taken advantage of honest financing to advance their financial well-being. By introducing the option to pay-over-time with as low as 0% APR financing to iPhone, Ting has extended the benefits of honest financing to one of the most desirable products on the market.”