By denying your customers the right to buy a smartphone, banks themselves lose profits. Consumer loans are one of the most profitable banking services, the interest is quite high for the customer.
You can convince a bank to provide a loan to a customer. The loan should stop being unsecured and become a secured one. This takes place with a mortgage or a car loan, when a property or vehicle remains in the ownership of the bank until the loan is paid in full.
There is no such scheme in the Russian legislation for POS loans. However, the Civil Code, the main law governing property rights, gives the contract parties a sufficient scope for solving this problem.
SCaaS is a way to remotely limit the functionality of a smartphone if the buyer fails to make payments. Mild restrictions are applied at first, but it can get to a complete lock. Under such conditions, lenders approve loan applications 8 times more often than they usually do!
Buyers are also happy. Solvent buyers do not see possible restriction of functionality as a problem. They like that payment reminders will come in the form of soft push notifications rather than calls. The customer accepts restrictions voluntarily, this is a legal move.
As a result, everyone wins:
The application locks various functions of the smartphone on schedule, starting from the least important and then locking out the necessary ones. In case of a long delay, the device is locked completely.
If there is a delay, the smartphone itself will remind the customer that it is time to make a payment
Push notifications with guaranteed delivery
The presence of an application that can limit the functionality of the device helps the customer make payments on time.
Manufacturers and sellers have an increase in sales
Buyers get the right equipment right now and not when they can save the amount they need
Customers begin to make payments on time and avoid long delays
Guaranteed and free communication with the owner of the device
Transparent interaction between the customer and the lender