SmartPay, an instant financing option powered by BillFloat, will soon be available via a select group of Radio Shack retail outlets in Houston as part of a pilot program, BillFloat announced today.
SmartPay allows consumers to pay for newly bought smartphones on an “in-store lease-to-own” basis. The new partnership with Radio Shack will be the first time such a financing opportunity has been available to potential smartphone buyers.
Based in San Francisco and founded in 2009, BillFloat’s More-Time-To-Pay platform helps provide instant financing options for merchants and their customers.
The platform supports SmartPay, as well as products like MoreTime and SmartLine. According to BillFloat, SmartPay volume has grown by more than 1,900% since its launch last September.
In becoming part of the pilot program, Radio Shack joins MetroPCS, Virgin Mobile, and CSpire in offering SmartPay.
Ryan Gilbert is co-founder and CEO of BillFloat. The company has raised more than $20 million in venture capital.
BillFloat presented its MTP platform as part of the FinovateSpring 2011 show in San Francisco. Watch a demo of the technology at work here.