Local iStore outlets in South Africa, in conjunction with the Standard Bank, have implemented a new offer that would help iPhone lovers of South Africa to exchange their old iPhones for new ones. The financing and buy-back option was set up by these two parties to ensure better reach of the iPhone, reduce the amount of technological waste around and largely to ensure that people are not stopped by the money barrier when it comes to using their favorite devices.
All a customer needs do is have a Standard Bank issued debit card. This card can then be used to purchase an iPhone on contractual terms which would see the user pay back the price over a period of 24 months (mathematical year) or traded in after 12 months of use to balance the outstanding debt. This innovative idea was launched after a recent research clearly suggested and ascertained that an iPhone device still worths about half of its initial price after one year of fair usage.
The terms and conditions of this contract is largely similar to that of Apple. Apple launched its own version of international iPhone Upgrade Programme which would see to it that users are able to trade in old versions of the device for a new one, ensuring that they get the best deals on the iOS platform every year. The only glitch to this plan has to be that with every renewal, users have to sign up another contractual agreement that would span another 24 months.
With a new contract, in South Africa for example, old users would just need to pay a token of R550 for an upgrade to an iPhone 6 16GB variant with a contract spanning 24 months.
This move is set to increase the amount of users on the iOS platform as those that were formerly scared of the price tags now have a suitable option to consider.