In 2013, Vertex/Conversa observed the change happening in the wireless industry as device financing, equipment installment plans and device leasing overtook decades of subsidy models and network locks. We saw the opportunity for fraud in these plans, and recognized the possibility that network operators, OEMs and retailers implanting these programs would not see the financial ramifications until it was too late.
ENGINEERED TO SUCCEED
The application siperLOCK enables carriers and retailers to disable subscriber handsets remotely if the device is not returned, reported stolen or payment is not made. It protects against credit losses, reduces collection costs, speeds up collection returns and retains customers.
RISK REDUCED & PROFITS INCREASED
One tier-1 carrier lost $433 million in unpaid EIP payments in 2015. Its clear bad debt is a real problem for network operators. Our solution decreased collection calls by ½ and increased profits of one carrier’s EIP plan by 80 percent.
By deploying siperLOCK via our cloud deployment solution, and by working with OEMs to have the app preloaded on devices, we gave carriers the solution for a competitive edge.