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11/1/2018

RTO Mobile Casts Vision to Address Challenges In Mobile Device, Accessory and Repair Affordability

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November, 2018 - RTO Mobile, a Colorado Corporation founded by veterans in the prepaid wireless industry, set out a broad vision to address the widening gap between what is reasonably affordable to pay for quality mobile devices, accessories, and repairs and the price point of this merchandise. It was no secret that reliance on mobile devices by people of all demographic backgrounds was growing to unprecedented levels only to be outpaced by growth in device, accessory, and repair cost creating massive affordability challenges.  Especially true for people whose applications are regularly declined by brand name carriers and finance companies. This gap is widening with nothing available today for retailers to help these customers obtain today what they truly need: a reliable mobile device with sufficient processor speeds, memory, storage, battery life and the accessories that protect the device.

Customers who are credit challenged or those without banking relationships rely as much, if not more, on mobile devices than their counterparts who can easily obtain high-quality devices offered by carrier brands and retailers. However, the choices for these folks is quite limited, and retailers are left with referring these customers to finance companies and suffer the high application decline rate. 

RTO Mobile’s vision includes a software-as-a-service platform that allows retail merchants to create a rent-to-own contractual arrangement with their customers. The platform, identified as the RTO Mobile PowerPortal, supports retail merchants with functions to originate, control, and maintain rent-to-own contracts between the retailer and customer to accommodate the customer’s ultimate acquisition of high-quality mobile devices, accessories, and repairs.

Larry Roches, Chairman and CEO of RTO Mobile, cites that “the last frontier for mobile retail store operators in which to participate is accommodating customers with an array of payment options that are more affordable to customers and profitable for the retailer”.

Unlike anything available in the market at the present time, RTO Mobile’s vision promises to materialize into a fully functional cloud-based software-as-a-service ready for beta testing by May of 2019. RTO Mobile expects that it will experience wide adoption of the RTO Mobile PowerPortal among prepaid wireless retail operators throughout the U.S. by the end of 2021.