As previously teased by Rogers, the company has launched its Edge Financing program today, which offers customers 0% interest-free payments on devices over 24 or 36 months. Also new are Rogers Infinite Canada and US and non-share plans.
Rogers says Edge Financing applies to the latest smartphones, tablets or eSIM enabled smartwatches. Customers pay $0 down, then finance equal payments interest-free over 24 or 36 months, with options to pay off balances in full at any time.
In an example of a 64GB iPhone XS ($1410 no term price) under Edge Financing provided to iPhone in Canada, Rogers explains a customer would pay $0 upfront, then either pay $58.75 (24 months) or $39.16 (36 months). Customers would need to pay device taxes in full upfront.
Add in a required Rogers Infinite plan, such as the $75/10GB option, and that works out to a monthly bill of $133.75 (24 months) or $114.16 (36 months). After devices are paid off, monthly balances drop down to just the plan cost at $75 per month.
The CRTC Wireless Code stipulates wireless contracts of 24-month terms, but with Rogers Edge Financing, there are no changes to the length of their wireless service contracts, and customers who decide on the financing program are on month-to-month terms. Also, there are no cancellation fees, as customers only need to pay back remaining balances if they cancel.
Rogers President, Wireless Services, Brent Johnston, told the Globe and Mail, “We’ve read [the code] carefully. It’s our opinion that it’s compliant.”
“On a subsidy agreement, the repayment of the phone is embedded in the monthly service fee. One of the criticisms of subsidy models is that they are not transparent. It’s hard for the consumer to understand what they’re paying for service and what portion of their monthly bill is paying off the value of the device,” added Johnston.
New Rogers Infinite Plans Across Canada and the U.S.
Rogers Infinite plans offer no overages, but data is throttled to 256 Kbps after initial buckets are exceeded (Bell and Telus throttle at 512 Kbps). New Canada + U.S. plans let customers use their data in both countries with no roaming fees.
These Rogers Infinite Canada + U.S. options are priced as follows on BYOD ($20 more per month vs Canada only Infinite plans):
Rogers says “customers can now choose whether they want to split the max speed data with the other lines on their Rogers Infinite plan.” The company says “The more lines added to a Rogers Infinite plan, the more data there is to share. Customers who prefer not to split their max speed data can choose a non-share option.”
With the introduction of Edge Financing, traditional two-year subsidy plans still are available, says Rogers, but renamed to the Edge Tab program. The old tab programs are listed below along with their revised names and monthly device payment amounts:
- Ultra = Edge 40 Tab = $40
- Premium + = Edge 30 Tab = $30
- Premium = Edge 20 Tab = $20
“Get the iPhone you really want for $0 down”, reads the Rogers website, touting Edge Financing as an option to pay for an iPhone XS, with $0 down and 0% interest.
“We’re on a journey to deliver the best possible experience to our customers. They told us they want affordable and transparent options to get the latest wireless devices and that’s what we’ve introduced,” said Johnston, President, Wireless Services, in an issued statement to iPhone in Canada. “Offering our customers three-year device financing means lower monthly payments – it’s the right thing to do for our customers.”
Are you going to sign up for Rogers Edge Financing?