Just two days ago we shared a rumor that Verizon would be offering their own version of T-Mobile's "Jump" program, and that it would be called VZ Edge. It looks like the leak was accurate, because VZW just officially announced it this morning. They announced it in a small press blurb on their website, with very few details present.

For the most part, from what they did share, it looks like it will be exactly as the leak described. Here's a quote from the Big Red landing page with a source link below,

Verizon Edge Device Payment and Early Upgrade Plan

Technology changes fast. You purchase a phone or tablet and within a few short months, something new hits the shelves.

If you want to stay on top of the latest technology, the new Verizon Edge device payment plan offers an affordable way to upgrade to the newest device and satisfy your love of technology. Verizon Edge is a flexible equipment payment plan that spreads the retail price of a phone over 24 months. You can also upgrade to a new phone after six months if 50 percent of the retail cost has been paid.

Hereís how it works: Choose the phone you want and sign up for a month-to-month service plan, itís as easy as that. The full retail price of the phone will be divided over 24 months and youíll pay the first month at the time of purchase. If you want to upgrade after 6 months, just pay off 50% of the full retail price of the phone and you can choose a new phone and start all over again.

There are no long-term service contracts, finance charges or upgrade fees with Verizon Edge. Every six months, as long as 50 percent of the cost of the phone has been paid, you can upgrade to the newest basic or smartphone available.

Verizon Edge will be available to customers on Share Everything plans starting August 25th.
Although this does offer folks faster upgrade options, unless the later details change things up with this plan, it's hard to see this as anything but pocket drain on Verizon customers.

Source: VerizonWireless