Verizon is now selling FiOS Internet, TV, and phone services on a prepaid basis, with new plans that don't require annual contracts, deposits, or credit checks.

Announced yesterday, FiOS prepaid comes with only one Internet speed choice: 25Mbps up and down. By contrast, Verizon's regular plans start at 50Mbps and range up to 750Mbps.

But prepaid service could be enticing for people who have bad credit or want to avoid long-term contracts. Prepaid service also offers a slightly lower price than the regular entry-level tier, which makes sense since the speeds are slower. The 25Mbps Internet-only prepaid plan costs $60 a month plus taxes and fees, with a Wi-Fi router included. "FiOS prepaid includes the equipment you need at no additional charge," Verizon says. Professional installation is $90, but self-installation is free.

Verizon advertises its already-existing 50Mbps plan at $55 a month, plus $10 a month for a router (unless you buy a router outright). But that price is $30 lower than the normal price. Once you click through the online checkout system, you'll find out that a $15 discount expires after 12 months and a separate discount of $15 expires after 24 months, raising the price to $85 a month, excluding the router.

The prepaid price could rise in the future, of course, but it seems likely to stay a little bit lower than the 50Mbps price. Prepaid customers can pay with cash at Verizon Wireless stores or online with debit and credit cards.

There are also FiOS prepaid bundles available. Internet and voice starts at $70 a month, Internet and TV starts at $100 a month, while a bundle of all three starts at $110 a month. Verizon's contract plans generally have cheaper starting prices for bundles, but again, there are equipment rental fees, and those prices rise significantly once the discounts expire.

FiOS prepaid service is available in all FiOS areas, Verizon said. There was no mention of making prepaid available in areas where Verizon's network is still using slower DSL technology.

While prepaid plans are more common in the mobile industry, Verizon isn't the first major home Internet provider to offer prepaid. Comcast offers prepaid service with a different pricing model: you pay $80 up front for a starter kit and can purchase "refills" that cost $45 for 30 days of service or $15 for seven days.