ThinkSmart Targets Market Growth With New Services Based Finance Product

11 Jan ThinkSmart Targets Market Growth With New Services Based Finance Product

ThinkSmart Targets Market Growth With New Services Based Finance Product

– Customers to receive free data transfer, online backup and remote access

– RentSmart available through JB Hi-Fi, Dick Smith and Officeworks

ThinkSmart Limited (ASX:TSM), a leading international computer and office equipment financing company, today launched a suite of enhancements for its successful RentSmart finance product, aimed at growing its share of customers in the Australian market.

Distributed through leading retailers JB Hi-Fi, Dick Smith and Officeworks, the RentSmart product fills the gap for customers between a credit card and bank loan, enabling them to get on-the-spot approval for the technology they need via a cash flow and tax friendly operating lease.

The enhancements to the RentSmart product include the provision of online data back-up and remote data access for the duration of their rental contracts at no extra cost.

“These services provide significant additional value to customers beyond the inherent financial benefits of the RentSmart product and we expect them to be a catalyst for further product growth in the Australian market during 2010,” said ThinkSmart Executive Chairman and CEO Ned Montarello. “Consumers have become more mobile in the way that they use technology and more reliant on that technology in a variety of ways, including storing email, music, photo and media files.

“By providing a free integrated online data backup service as part of our core RentSmart product, we are not only meeting our customers’ financial needs but resonating with their social needs.”

The additional RentSmart features for consumers, at no additional cost, are:

• Online data transfer – enabling the customer to easily transfer their existing files to their new machine;
• Online data back-up – enabling them to securely back-up all their personal and professional files and data for the duration of their contract;
• Remote file access – enabling the customer to access their backed-up data from anywhere in the world; and
• A loaner laptop – a free temporary replacement laptop if their product is stolen or faulty

In addition, to encourage customers to update to the latest technology at the end of their term, the RentSmart product provides customers with an easy swap option whereby ThinkSmart will waive the last three months of payments for customer choosing to upgrade their equipment before the end of term.

Mr Montarello said he expected the enhancements to resonate strongly with the consumer.

“The RentSmart product meets a need for business customers as well as consumer customers, who now account for over 60% of the new business we write in Australia every month,” said Mr Montarello.