ThinkSmart Extends JB Hi-Fi Contract

04 Feb ThinkSmart Extends JB Hi-Fi Contract

• Existing operating agreement for ThinkSmart’s rental products has been extended to late 2015
• ThinkSmart and JB Hi-Fi agree to offer ThinkSmart’s payment plan product, Fido, to JB Hi-Fi’s customers throughout the term of the new agreement
• JB Hi-Fi completes successful in-store promotion during January using Fido

ThinkSmart Limited is pleased to announce that it has extended its contractual relationship with JB Hi-Fi Limited to the second half of 2015. ThinkSmart and JB Hi-Fi have worked closely together since 2007.

ThinkSmart launched its “no interest ever” Fido product last year. Fido provides customers and an array of national retailers a winning combination of a “no interest ever” financing product and a quick online application process. Customers are able to apply and be pre-approved for credit online in minutes, leveraging the success of ThinkSmart’s patented QuickSmart technology.

During January, JB Hi-Fi ran a promotion using Fido. Following the success of this promotion, both parties have agreed to include Fido in the operating agreement and have expressed an intention to offer both Fido and RentSmart to JB Hi-Fi’s customers.

“JB Hi-Fi is a valued partner and it is exciting to extend this relationship. This is also an important milestone for Fido,” said ThinkSmart Executive Chairman and CEO, Ned Montarello.

“ThinkSmart and JB Hi-Fi share a focus on providing the highest level of service to customers. JB Hi-Fi is an exceptional Australian retailer and the extension of our partnership to include Fido is a tremendous endorsement of the product.”

JB Hi-Fi Chief Executive Officer Terry Smart said he was pleased about extending the existing relationship with ThinkSmart.

“JB Hi-Fi is known for its customer engagement and offering consumers the best value, range and service. Our partnership with ThinkSmart is a strong one that helps meet those objectives by offering consumers greater choice with payments.”

ThinkSmart’s full year results for the 2012 year will be released on 20 February 2013.