ThinkSmart Announces New Retailers For Fido Payment Plan

20 Feb ThinkSmart Announces New Retailers For Fido Payment Plan

New Retail Partner For Fido Payment Plan

Secured Distribution With Over 500 Retail Outlets

ThinkSmart Limited (ASX:TSM), a leading provider of point of sale financing, today launched Fido, an innovative new payment plan product for the Australian market. Ahead of this launch, ThinkSmart has secured multiple retail partners for Fido, providing access through over 500 outlets.

Commenting on the announcement, ThinkSmart Executive Chairman and CEO, Mr Ned Montarello, said, “The launch of Fido is a major step forward in our strategy to diversify our business through expanding our addressable market and growing our distribution. While we have a strong presence in the technology leasing sector, the move into the ‘no-interest-ever’ market opens up many new retail categories and distribution partners.”

Fido enables ThinkSmart to target both consumers and retailers in traditionally higher margin categories such as homewares, sports equipment, auto accessories and jewellery. The ‘no-interest-ever’ market is an appealing market which is well understood by retailers in Australia. ThinkSmart brings two key competitive advantages with the launch of Fido:

• The Fido payment plan enables consumers to apply and be pre-approved for credit online in a matter of minutes, leveraging the success of ThinkSmart’s patented QuickSmart technology.
• The Fido brand, represented by Fido the dog and the phrase “The smarter way to pay” encapsulates the convenience and simplicity of the payment plan for consumers in a fun and accessible way – “What can Fido get you today?”

“Our patented QuickSmart technology enables customers to get approved online and in store for purchases in a matter of minutes. This is a real competitive advantage compared to other phone based or paper based processes. Our online approval process will become even more valuable as we introduce e-signature capability later in the year, positioning us very strongly as multi-channel retailing continues to grow”, said Mr Montarello.

The retailers announced today who have signed up to sell their products through Fido include:

• Godfreys	• Automotive Holdings Group
• Bevilles (includes online)	• Leading Edge Golf/Golf Plus (includes online)
• Nu Energy	• The Jewellery Group (Zamels, Mazzucchelli’s)
• AGL	• Camera House

The value proposition for retailers lies in the ability of the Fido product to sell an increasing volume of high margin products by making purchases accessible for consumers. Retailers also benefit from improved processes and greater efficiency as customers can arrive in store with pre-approval to purchase or can obtain approval in-store in a matter of minutes.

Mr Ned Montarello said, “Our launch partners are excited by Fido’s retail friendly approval process and strong consumer facing branding which has the potential to drive volume growth in their businesses. We will continue to sign up other major retailers and thousands more are able to sign up as partners through ThinkSmart’s Retail Affiliate Program.”

ThinkSmart will also launch today ThinkSmart Business Leasing in the UK market. This is a new business to business leasing product for the equipment rental market. More information about ThinkSmart Business Leasing will be provided at the full year results announcement on 22 February 2012.

Retailers can become a retail partner via an online approval process at:www.thinksmartmarketplace.com.au/retailaffiliateprogram

Consumers can access Fido at: www.smartfido.com.au