Following T-Mobile's recent announcement of its new "Jump" phone upgrade program and its "Uncarrier" policies, a leaked document (via Droid Life) suggests that Verizon intends to introduce a similar "VZ Edge" program that will allow Verizon customers to purchase phones on a monthly payment plan that will include upgrade capabilities after half of the device purchase price has been paid.
Though details on the upcoming changes are scarce, the document implies that VZ Edge will function similarly to T-Mobile's Uncarrier program, letting customers purchase unsubsidized, off-contract phones via a monthly payment plan. T-Mobile customers can purchase devices like the iPhone 5 by offering a downpayment and a device fee of $21 per month. With the Jump add-on, customers pay an additional fee to access twice yearly upgrades.
Verizon's "flexible new plan" promises the latest devices, lower upfront costs, no upgrade fees, and no service contracts. Currently, Verizon only lets its customers upgrade on a 24-month basis, after contracts have expired.
It is unknown what Verizon intends to charge per month for the plan, but more information should be available on August 25, which is the program's scheduled launch date.