Rent-to-own News - New "invisible asset management" products helps RTO industry maintain strong growth

Due, in part, to a lagging economy and the continuing credit crunch, the rent-to-own industry has seen tremendous growth and success.

These successes, however are often hobbled by theft and difficult collection attempts. Industry leaders and local managers alike have searched for a suitable solution to these issues. How can one unobtrusively aid customers in keeping current with their payments, easily get the equipment back if they have fallen too far behind, and prevent thieves from creating additional loss?

Until now it has been nearly impossible to solve these problems efficiently and cost-effectively.

Utilizing knowledge and experience with advanced asset protection technologies, IContain Systems has come up with a new answer to an old problem. The company's ICinside and ICX products are automated solutions that provide the ability to locate electronic equipment -  and even disable it - in real-time from any location.

"While it’s not the only market we serve, IContain has been experiencing strong growth in the Rent-To-Own sector over the past year,” said IContain Founder and President, Todd Kleperis. “RTO companies recognize that if a customer is falling behind on payments for a television, they are far more likely to get current on payments – or return the set safely if they can no longer afford the payments - when it gets shut off, easier  then if they are getting repeated payment reminders over the phone or through the mail.”

With this added layer of security, businesses are then more able to accept 'under-banked' consumers. Under-banked or un-banked consumers are those who have little or no credit to procure financing for purchases. By opening lines of credit to these markets, businesses are able to capitalize safely on a broader market and consumers are able to build or repair their credit more easily.

IContain began deploying devices internationally last year and has just begun focusing on the North American market this year. IContain's hybrid hardware and software platform makes it easy to fine-tune control over each asset in a flexible manner. It doesn’t matter if it’s a television, a computer, a washing machine, an air conditioner or even a gaming console. With IContain's solution, one could toggle a child’s game system, or a forgotten air conditioner from a cell phone. The possible applications are innumerable.

"Our goal is to make every appliance smart,” said Todd Kleperis. “Smart homes really are not that smart yet.  Electric metering solutions still lack what IContain provides, a total customer solution for remote asset management." 

Founded in 2008 by tech industry veteran, Todd Kleperis, IContain is a cutting-edge developer of resource management and asset protection solutions that incorporate machine to machine (M2M) technologies ranging from RFID, cellular-assisted GPS, and stand-alone GPS modules. With applications for industries ranging from remote asset monitoring and tracking, to turning off the lights at your vacation home, IContain is making the future of smart appliances a bright one.