Comcast (NASDAQ:CMCSA) plans to roll out Xfinity Prepaid Services, a pay-as-you-go offering intended to let consumers sign up for video or Internet service and "refill" their subscription any time, for either seven or 30 days. The TV and Internet services, which come without a credit check or contract, are scheduled to be available later this year starting in Illinois, Michigan, Georgia, Florida and Indiana. They're expected to be available throughout the Comcast footprint by the end of 2017.
Additionally, Comcast has signed a deal with Boost Mobile, a provider of no-contract wireless service, to offer Xfinity Prepaid at select Boost Mobile locations later this year and all 4,400 Boost Mobile locations within Comcast's service area by the end of next year.
The services are targeted toward people who do not have a savings or checking account, what the FDIC refers to as "unbanked." According to the FDIC, nearly 10 million U.S. households are unbanked and another 25 million are underbanked.
"We want to create an easy, pay-as-you-go option for people who want more flexibility and predictability when buying our services," said Marcien Jenckes, Comcast's executive vice president, Consumer Services. "And our partnership with Boost Mobile will give Xfinity Prepaid customers even more places where they can conveniently sign up and pay as they go."
The services will require a one-time setup fee that includes all necessary equipment like a WiFi modem, DTA, or remote control, and a complimentary 30 days of service. The 10 Mbps Internet starter kit costs $80; seven-day refill is $15, and a 30-day refill is $45. Two video packages are available, one of 45 channels and one of 140 channels. Starter kits cost $80 and $120, respectively; seven-day refills are $15 and $30, respectively, and 30-day refills are $45 and $90. There are no limitations on the number of times the service can be renewed and customers can refill services on their own schedule. Comcast provides a discount for people who sign up for both TV and Internet service at the same time. Details are available at http://www.xfinityprepaid.com/.