T-Mobile recently announced the JUMP upgrade program and it looks like Verizon Wireless may also be getting ready to launch a smartphone upgrade plan. The Verizon plan is expected to be announced on August 25th and it is looking like it will be called “VZ Edge.”

The details that have been revealed are coming by way of a leaked training slide. According to that slide, Verizon will be pushing “VZ Edge” as the “new plan for customers who want to stay on the leading edge of technology.” Further details talk about the customer paying a monthly fee as opposed to purchasing a device upfront.

The key here, those customers choosing to go the VZ Edge route will be able to upgrade anytime they want. Well, to be specific, anytime after 50 percent of their current device has been paid for. Some of the perks mentioned on that training slide include lower upfront costs, no upgrade fees and no service contract. Of course, there is also the bit about always having the latest devices.

While this appears to be shaping up for a decent option for Verizon Wireless customers, there are still plenty of details missing. For example, we have yet to see what time period those devices will be paid over. Looking towards the device payment plan that was announced back in April may give a clue though — that plan offers device financing over a 12-month period.

The other point that has yet to be addressed is whether you would be required to trade-in your current device. With that in mind, having to trade your current device would seem likely. Bottom line here, Verizon looks to have the “VZ Edge” upgrade program coming in late-August and while it is something we are curious to learn more about — given the details that are still missing it is hard to say how nice it will actually be.

VIA: Droid-Life