It sounds as if you had a similar experience to M-B Financial with your app -- people started using before it was even announced.
We just launched it on toyotafinancial.com. You show your account and you can pay.
What was fascinating was that as we put it together over the last couple weeks, we hadn't even launched it, and younger people had found it and submitted payments. It actually stunned us. We hadn't even announced it, and yet these young people found it.
Is your app aimed particularly at young buyers, or is it for everybody?
The younger people are going to discover it first, that's for sure.
How are you promoting it?
People will get a notice with their statements. That includes people who already get their statements online. Also, anybody who calls our call centers will hear about it.
There are a couple of apps, only a couple, that allow people to actually inquire about credit via their smart phones. It's not exactly the same as submitting a credit application, but it seems like that's where we're going.
Are you interested in doing that?
Sure, it's something we're looking at.
Any other features you're adding?
There will be click-to-pay.
Do you see this technology as something that's going to add customers, or is it more a case of retaining customers because they like the convenience?
We just want to make it easy for the customer. Some people may prefer to write a check, some will want to pay online and now some will want to use their phones.
Are you also doing a lot with social media?
You can use social media Web sites to give information and to make yourself more accessible. We want to avoid simply making available a platform for people to voice complaints, who want to air their grievances in front of the Facebook society. We can't debate them; what you do is you respond, but to take it offline.