Verizon's monthly installment payment program lets you pay for devices (smartphones, basic phones, tablets, smartwatches) over a specific period of time. No finance charges or 2-year customer agreements are required.
The device payment program:
- Requires that you enter an agreement to pay for the device in monthly payments until the device is paid off.
- You can choose to pay the installments over the full period of the term, or you can pay off the device's total price any time.
- A $20 fee is charged when you activate a new line or upgrade your device through the My Verizon app or My Verizon online (the fee is $40 if you activate or upgrade in a store or by phone).
Your specific terms and payment amounts are shown in your first bill and your device payment installment agreement.