TORRANCE, Calif. — Toyota Financial Services believes it now has a "first-of-its-kind" iPhone app, a tool the company rolled out this week.

TFS highlighted that what makes its iPhone app so special is that it can incorporate personalized QR code technology that can allow customers to access their accounts through their smartphone.

The company explained that customers who download the TFS app can use their smartphone or iPad2 to simply scan a personalized QR code found on their billing statement and have instant access to their account.

While utilizing the QR code is not required to use the app, officials contend it does speed the process of paying via a mobile device. 

Within the first few days of the app being available and prior to any announcement or promotion, TFS indicated more than 5,200 users had already downloaded the app.

This month, customers will begin to see their personalized QR code on their billing statements with an invitation to download the app.

According to industry analysts from Forrester and NACHA — The Electronic Payments Association, consumer trends indicate a growing number of Americans are relying less upon traditional websites and more on their smartphones when performing financial transactions:

—20 percent of consumers who own an Internet-capable phone use it to pay bills.

—62 percent of those customers went directly to the billers' website.

—88 percent of the U.S. population (270 million) will have a mobile phone subscription by 2014.

—Mobile Internet usage is expected to grow from 52 million in 2009 to 106 million in 2014.

—More than $200 billion in payments will be collected via mobile devices by 2015.

Forrester also expects that nearly 18 percent of customers who currently don't bank online will be using mobile banking to access their accounts in the future.

"We launched a mobile-enhanced site for our customers back in January," explained Karen Ideno, head of marketing and brand at Toyota Financial Services. "But expectations are that in the near future, about 20 percent of consumers who own a smartphone will bypass online sites completely and pay their bills directly via their smartphone.

"We needed to provide an option that would give them immediate access to their accounts, even if they've never registered online prior to downloading the app. Our use of personalized QR code technology allows them to do just that," Ideno continued.

"We are really excited to offer this additional channel and experience for our customers who want the ease and expediency of paying via their smartphone," she went on to say. "Toyota, Lexus and Scion customers will each have an app that reflects the look and feel of their vehicle's brand, while, of course, offering each the same robust functionality and convenient account access."

TFS launched a video accessible on its YouTube channel highlighting the new app as yet another way it is answering consumer demand for multiple means of account management. It's available at http://youtu.be/fPsxD4rSVfc.