Visa’s New Tool Helps You Track and Manage Recurring Payments

Subscription Boom Drives Innovation

Visa, the global payments giant, has launched Subscription Manager, a new service designed to simplify the management of recurring payments. As the subscription economy continues to boom, with a projected value of US$406 billion by 2025, Visa aims to address the growing consumer challenge of overseeing multiple subscriptions across various platforms.

Subscription Manager offers a centralized platform where users can track and manage their subscriptions through their banking app. This service allows cardholders to view where their card details are stored, monitor recurring payments, and easily cancel unwanted subscriptions.

Enhancing Transparency and Control

The introduction of Subscription Manager aligns with Visa’s ongoing efforts to enhance transparency in the digital payments landscape and empower consumers with greater control over their finances. It is part of Visa’s Digital Enablement product suite, which aims to provide issuers with tools to improve the digital experience for cardholders.

The growing demand for secure digital payment services has fueled the rise of subscriptions. Visa’s research reveals that 63% of consumers are open to a future based solely on digital money, and the use of mobile wallets has surged in the past year. These trends underscore the potential for widespread adoption of Subscription Manager.

Global Rollout on the Horizon

While currently in pilot mode in selected regions, Subscription Manager is expected to be rolled out globally soon. This innovative service reflects Visa’s commitment to adapt to the evolving financial landscape and meet the changing needs of consumers in the digital age.

At International Fintech Business (IFB), we help to connect companies to VISA, MasterCard, and China Union Pay payment methods. Our experts can help with any questions you may have. Contact us today!