The global subscription market is on a steady rise, expected to reach a staggering $406 billion by 2025. As the trend of consumers subscribing to services in sectors such as retail, food and more increases, so does the challenge of managing their payments.
Recognising this, Visa, a world player in digital payments, has announced the launch of Subscription Manager, a new, all-in-one service for financial institutions to provide Visa cardholders with a simple, convenient way to track their subscriptions, all from the palm of their hands.
In the era of subscription overload, consumers are grappling with the complexities of managing multiple subscriptions across a web of apps. Navigating through each platform’s unique terms can potentially lead to unnoticed charges, even after a subscription is cancelled.
Visa’s new Subscription Manager streamlines key aspects of recurring payments in one place, allowing cardholders to see where their card details are stored, view which recurring payments are attributed to their card, and stop recurring payments.
“Managing subscriptions can often feel like a maze, with consumers sometimes feeling trapped in a cycle of confusing charges,” said Kathleen Pierce-Gilmore, global head of Issuing Solutions at Visa. “Our goal is to make this process simpler and ensure cardholders know exactly where their money is going, and when.”
