When the warranty runs out, so does the peace of mind

Where the revenue quietly goes

Retail margins on electronics are thin, and retailers are increasingly looking to services -not just device sales- for new, recurring revenue, built on the kind of repeat customer relationships that services create. That means staying part of the picture both while a device is still under warranty and after it ends, not just at the moment of sale.

The problem is that most of that revenue currently leaks away. Once the manufacturer's warranty runs out, repairs often move to independent shops or manufacturer service centers, outside the retailer's own network, and the customer relationship goes with them. Extended warranty is supposed to fill that gap, but it has a reputation, often deserved, for exclusions buried in the fine print, slow claims, and paperwork nobody wants to deal with when something breaks.

A new standard for retail protection

RetailSure360 is Wallbid's solution for retail and e-commerce, built to let retailers offer relevant coverage exactly when customers need it. Extended Warranty powered by Wallbid is the first product live on the RetailSure360 platform. It plugs directly into a retailer's existing ERP and point-of-sale systems, and it's designed to be simple for retailers to sell and simple for customers to claim on, a fully digital experience from enrolment through to resolution. And because it runs on the same platform that already handles in-warranty and out-of-warranty repairs, retailers get one interface to manage the whole device lifecycle, with less hassle on their end and the revenue staying in-house.

What it covers

For major & small appliances, TVs and audio equipment, coverage runs for up to five years from the date of purchase. For smartphones and other tech devices, it extends into the third year. It's not limited to new purchases either, devices already in use for up to 18 months can also be enrolled.

There's no deductible, and no cap on the number of repairs, only on the total amount covered. If a device is not repaired, the customer is compensated in cash instead. Every step, from filing a claim to tracking a repair, runs through the Wallbid My Extended Warranty Wallet, with AI-assisted claims handling that keeps the process fast without taking the decision out of human hands.

A claim starts through the Wallet, where the customer submits the details needed for their device. From there, AI checks the claim against the coverage terms and runs fraud scoring, then works through the reported issue itself. Sometimes that means catching something that doesn't need a technician at all, if a freezer isn't cooling properly for instance, AI might flag a frost build-up as the likely cause before any visit is booked. Once it's clear a repair is genuinely needed, AI does a preliminary assessment of the damage and recommends whether it's a repair or a refund case. Τhen AI assigns the right technician from a rated network of repair partners, and the customer picks an appointment from the available slots. The result is smart routing, the right service for every claim, with speed, consistent quality, and transparency from the first report to the final outcome. If human intervention is needed, it's flagged for a person to review before any decision is finalized.

What it means for retailers

Extended Warranty powered by Wallbid opens a new, recurring revenue line on every device sold. It's delivered to the end customer as a service, with the underlying risk carried by Wallbid's international reinsurance partner. Wallbid brings the technology for sales and claims, the product itself, end-to-end claims management, and the affiliated repair networks. And because that underlying coverage is backed internationally, the same product isn't limited to one specific market, it can scale into new markets alongside the retailer.

“Retailers already knew their customers needed this. What was missing was a way to offer it without effort from their end and that's what Extended Warranty powered by Wallbid is," said Evgenios Petoumenos, Head of Partnerships, Wallbid.

Retail margins on electronics aren't getting any easier, and warranty and protection revenue has become one of the few reliable ways to improve them. More retailers are looking for this kind of revenue without extra operational weight, which means coverage like this is likely to stop being a differentiator and start being the default.

Extended Warranty powered by Wallbid is already launching across leading electronics retail & e-commerce groups in Greece, with the same model planned to extend into other European markets next.