Mercedes-Benz Financial Service collection through mobile channels more-than-doubled to $14 million

Article by Christian A., on May 28, 2012

Mercedes-Benz Financial Services (MBFS) is experiencing steady growth in the number of clients who use mobile channels in managing their accounts. Specifically, almost 10 percent of the online payments the firm receives today are sent through mobile channels. In particular MBFS received $14.1 million during the first three months this year.

This is more than double than the $6.5 million that it got in 2011. Since October 2009, the company has established itself as a pacesetter in mobile technology when it launched an Apple iPhone® app. MBFS sees significantly higher customer satisfaction index (CSI) scores, around 6 to 7 points, for clients who use mobile account management options.

Matt Wiethoff, Mercedes-Benz Financial Services' Business to Consumer Marketing Manager, shared that they "quickly recognized" mobile devices as preferred channels for their customer base, thus, they customized their account management offerings to suit the platforms. He made the statement to members of the Washington Automotive Press Association during its monthly meeting at the National Press Club in Washington, D.C.

In early 2010, the company launched a mobile version of its mbfs.com online portal, accessible from all smartphones and capable of accepting monthly payments on MBFS leases and loans. The following year, MBFS further enhanced the app to become compatible for iPad. By the end of last year, which was the first full year for both mobile payment channels were available, MBFS was able to collect $38 million in payments.

The company anticipates processing more than $68 million in mobile payments this year, surpassing the total funds received through mobile channels for the nearly three-year history of its mobile program.

MBFS had a growth rate of 127% in the mobile payment channel last year. It continues to study new technologies with the aim of offering account information anytime, anywhere. With more than 40% of the total retail portfolio of 530,000 accounts using self-service, online methods, MBFS sees the importance of emerging technologies in providing service to its clients.

Topics: mercedes-benz

If you liked the article, share on:

Comments

Recommended

New and improved 2018 Subaru Legacy comes packed with a number of upgraded features from the get go - from the exterior to the interior. And the company has finally...
by - June 23, 2017
In an interview involving Lamborghini CEO Stefano Domenicali and Automotive News, the topic about the Urus was thoroughly discussed. This super SUV is scheduled to make its debut later this...
by - June 23, 2017
Porsche definitely adores variety. You’ll see what we mean if you browse through the official company's website that shows a plethora of various 911 models. And now, the German marque...
by - June 23, 2017
2018 Ford Expedition is on its way to the market, and will be arriving at dealerships this fall. The all-new SUV will come with a new design, new EcoBoost engine,...
by - June 23, 2017
The 2018 Porsche 911 GT2 RS that made its debut not so long ago at the E3 video game expo in Los Angeles has already been sold out according to...
by - June 23, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries