After T-Mobile offered customers a tempting reason to switch by paying early termination fees, it's now Verizon, which has come up with an offer that promises to drive customers to the wireless carrier.

Verizon has announced that it is dropping its Edge early-upgrade plan from a six month wait to just one month wait, giving its subscribers an opportunity to upgrade their devices just 30 days after purchasing them.

Initially, the plan allowed trade-ins for devices that were half paid off and were about at least six months old.

In spite of the fact that wait-time has been reduced to one month from six months, the pricing will still remain the same. It means users opting for a new device will have to pay at least 50 percent of the phone's value, irrespective of the usage duration. However, the deal perfectly caters to users who fancy using the latest flagship devices launched.

A spokesman for Verizon said the tweak in the plan was technically a "promotion" but the carrier has yet to set an end date.

"This is currently a promotion but we have not set an end date. It is in response to our customer's requests regarding this popular payment and upgrade plan.....While it is important to understand what our competitors are doing, Verizon makes decisions based on what's best for both our customers and business," the spokesman said.

Verizon is also offering a $100 gift card for users who opt for the Edge plan and also trades in a working smartphone before buying a brand-new 4G LTE smartphone from Verizon.

The move from the largest U.S. wireless provider comes shortly after its rival T-Mobile announced it will pay up to $650 in early termination fees for customers looking to switch from other wireless carriers.