Two days ago, we showed you a leaked internal Verizon document that detailed an unannounced service called “Verizon Edge”. Today, Verizon officially announced the anytime upgrade service, confirming that it will become available to customers starting August 25th.
The service works pretty much identically to the new anytime upgrade programs from its competitors, such as AT&T. When customers sign up, they split the retail cost of their new phone into 24 monthly payments. After six months of payments, the customer is allowed to upgrade their phone if they’ve paid off at least half of the device. If the old device isn’t fully paid off, customers must also trade in their phone when they go to upgrade. They can then start over their six months and begin to work towards a new device.
Verizon’s new option is available to any customers using one of its “Share Everything” plans.
Verizon’s announcement comes in the wake of T-Mobile and AT&T announcing their companies’ respective upgrade programs.