Visa has launched Subscription Manager, an all-in-one service for financial institutions to provide the payment firm’s cardholders with a simple, convenient way to track their subscriptions, all from the palm of their hands.
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.
“Navigating through each platform’s unique terms can potentially lead to unnoticed charges, even after a subscription is cancelled,” said Leila Serhan, Senior Vice President and Group Country Manager for North Africa, Levant and Pakistan region. “Our goal is to simplify this process and ensure cardholders know exactly where their money is going and when.”
Subscription Manager is the newest addition to Visa’s digital enablement product suite, a comprehensive set of tools and flexible solutions to help issuers offer better digital experiences for their cardholders.
The new solution supports Visa’s ongoing efforts to increase transparency and control in the subscription economy. It builds on initiatives such as its 2020 mandate that requires merchants to obtain cardholder consent after free trials or introductory promotions before initiating billing.
Subscription Manager is currently available in Egypt. The global subscription market is growing steadily and is expected to reach $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.
