WASHINGTON — Since establishing itself as an innovator in mobile technology with the introduction of an app for the Apple iPhone® in October 2009, Mercedes-Benz Financial Services (MBFS) is seeing steady growth in the number of customers using mobile channels for account management.
Today, nearly 10 percent of the payments MBFS receives through its online payment system are submitted via mobile channels. In the first quarter 2012, the company received $14.1 million, more than double last year’s $6.5 million. MBFS sees considerably higher customer satisfaction index (CSI) scores, approximately 6-7 points, for customers using mobile account management options.
“We quickly recognized that mobile devices were a preferred channel for our customer base, and we’ve tailored our account management offerings around these platforms,” Matt Wiethoff, Manager, Business to Consumer Marketing for Mercedes-Benz Financial Services, told members of the Washington Automotive Press Association today at its monthly meeting at the National Press Club in Washington, D.C.
The iPhone app launch in 2009 was followed in early 2010 with the launch of a mobile version of mbfs.com, accessible from all smart phone devices and capable of accepting monthly payments on MBFS loans and leases. In 2011, MBFS further enhanced the app for iPad® compatibility.
At the close of 2011, the first full year both mobile payment channels were available, the company collected $38 million in payments. MBFS expects to process over $68 million in mobile payments in 2012, eclipsing the total funds collected through mobile channels for the nearly three-year history of its mobile program.
MBFS saw a growth rate of 127 percent in the mobile payment channel in 2011, and continues to evaluate new technologies with the goal of providing account information anytime, anywhere. With over 40% of the total retail portfolio of 530,000 accounts using online, self-service methods, MBFS recognizes the value of emerging technologies in servicing its consumers.
Wiethoff recapped Mercedes-Benz Financial Services’ recent initiative to update the app for the iPhone and iPad, adding a sales lead channel for its dealers. Continued expansion of mobile offerings could lead to additional platforms, with new and emerging technologies always being evaluated.
iPad, iPhone, and iPod touch are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc.
Mercedes-Benz Financial Services B2C Mobile Strategy Chronology
- MBFS launches iPhone app for customers to manage accounts, October 2009
- MBFS launches smartphone capability to manage accounts, February 2010
- MBFS has received approximately $68 million as of Q1 2012 in retail lease/loan payments from iPhones and smartphones via a payment channel established October 2009.
About Mercedes-Benz Financial Services USA LLC
Mercedes-Benz Financial Services USA LLC, headquartered in Farmington Hills, Mich., with Business Center Operations in Fort Worth, Texas, provides brand-specific financial services and products for Mercedes-Benz automotive dealers and their retail customers. It also provides financial support to smart USA dealers and customers.
In the U.S. trucking industry, it conducts business as Daimler Truck Financial and finances Daimler Trucks North America commercial vehicles branded Freightliner, Western Star and Thomas-Built Buses. Mercedes-Benz Financial Services USA LLC serves as the headquarters for operations in the United States, Canada, Mexico, Argentina and Brazil, and has approximately 1,500 employees. It is a company of the Daimler Financial Services Group, headquartered in Berlin, Germany, which does business in 39 countries with an employee base of approximately 6,700. Daimler Financial Services is one of the leading financial services organizations worldwide. For more information, go to: www.mbfs.com/corpor facebook.com/mbfsamericas.