MOBILE VIRTUAL NETWORK OPERATOR (MVNO) Giffgaff has started selling phones for the first time, having launched its own online store on Tuesday.
Giffgaff is a community-run MVNO that operates on the O2 network, and is perhaps best known for its cheap SIM-only deals. However, the network seemingly doesn't want to be known just for its affordable goody bags, and on Tuesday the network launched its own online phone shop.
There are 20 phones on offer from Giffgaff, ranging from the £71 Nokia 301, to the £599 Samsung Galaxy Note 3. The network is also offering the Nokia Lumia 925, LG G2 and Sony Xperia Z1, although the iPhone 5C and iPhone 5S are both noticeably absent from Giffgaff's list.
Of course, this is Giffgaff, so this isn't your average online store. The operator is also offering buyers flexible P2P financing, which means buyers can spread the cost of the phone over a number of months.
If you fancy picking up the Samsung Galaxy Note 3, for example, but don't have a spare £600, you can choose to pay either £50, £100, £150 or £200 for the handset upfront, before spreading the remaining cost over six, 12, 18 or 24 months.
The website also shows how much interest you will pay, and the longer the deal you opt for, the lower the interest rate.
The loans are provided by a Ratesetter, a P2B financing firm. Giffgaff explained how it all works, saying, 'We've teamed up with Ratesetter, a leading P2P lending organization, they do the clever bit - matching people with some spare cash with people like you who want to buy a phone over time.
'Because it all happens online and there are no banks involved costs are kept to a minimum - meaning you and the lender both get a great deal,' it added. ยต
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