ThinkSmart extends deal with JB Hi-Fi

Computer equipment financing company ThinkSmart (ASX:TSM) has revealed it has extended its business deal with JB Hi-Fi (ASX:JBH) until mid-2014.

As part of the new contract, ThinkSmart will integrate its QuickSmart online processing system with JB Hi-Fi's point of sale system.

The companies plan to launch a service giving customers access to e-signature and paperless in-store purchasing capability by April 2012, and said the deal also provides scope to extend the functionality to online customers.

ThinkSmart CEO Ned Montarello said the deal will provide operational efficiencies for both companies.

β€œIt's exciting that we're extending our agreement with JB Hi-Fi in Australia and New Zealand at the same time as we aim to bring e-signature technology and paperless processing to the Australian electrical marketplace,” he said.

JB Hi-Fi and ThinkSmart have had a business relationship since 2007, and ThinkSmart first deployed QuickSmart across all JB Hi-Fi stores in April 2009.

ThinkSmart has deals with other major retailers including Dick Smith – an agreement that has also been extended until 2014 – and with Dixon's in the UK.

TSM shares grew 2.53% on Friday at $0.790.