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MBFS Accepts More Than $50 Million in Mobile Payments

January 24, 2012

NEW YORK, NY – Mercedes-Benz Financial Services (MBFS) announced it has received more than $50 million in payments via mobile channels since introducing its iPhone app more than two years ago.

“A significant portion of our customer base quickly adopted mobile technology as a preferred method of making payments and communicating with us,” said Michael Kanzleiter, senior marketing manager for MBFS.

The company’s mobile payment channels, including the apps for iPhone and iPad and the mobile website, experienced a 127 percent growth rate in 2011, reflecting customers’ rapid adoption and the growing acceptance of doing business via mobile channels, according to the company. Nearly 40 percent of MBFS’ total retail portfolio of 511,000 customers manage their accounts with MBFS online, self-service methods, the My MBFS app, and the mobile website.

Kanzleiter added that MBFS is enhancing the existing app for the iPhone and iPad, enabling customers to obtain monthly payment estimates on new Mercedes-Benz vehicles. The update will even allow users to request a quote from a local dealer. Customers will select their Mercedes-Benz model, choose a retail or lease product and term, and the app will provide general payment information. Customers also can provide an email address and phone number to request additional information from a local dealer.

In October 2009, MBFS became the first captive auto finance company to introduce a consumer app for the iPhone that allowed its customers to make monthly payments. That 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 loans and leases. In 2011, the first full year that both mobile channels were available, the company received $38 million in payments.

In mid-2010, MBFS adapted the consumer-oriented Apple iPad to a business application by making the MBFS existing dealer portal, MB Advantage, available on the iPad for more than 350 Mercedes-Benz dealerships in the U.S.

For more information, visit www.mbfs.com.

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