Visa Launches Subscription Manager for Seamless Tracking

The global subscription market has continued to grow over the past decades as consumers continue to use repeat payments as an easy to manage their products and services.

Today, subscription services span retail, food and entertainment industries, and it’s expected to reach a marked US$406bn by 2025 according to Juniper Research. 

As consumers adopt more than one subscription service, managing these subscriptions can become quite burdensome – a point of financial services friction that Visa hopes to plug with its new Subscription Manager service. 

Subscription Manager: Enhancing convenience for consumers

With its new Subscription Manager service, Visa hopes to deliver an all-in-one service for financial institutions to provide cardholders with a convenient way to track and manage subscriptions via their banking app.

In what Visa calls ‘the era of subscription overload’, consumers are grappling with the complexities of managing multiple subscriptions across a plethora of different web platforms and applications. 

Subscription Manager streamlines key elements of recurring payments in one place, enabling cardholders to see where their card details are stored, view recurring payments attributed to their card and stop any unwanted recurring payments.

Visa’s new service comes as the latest edition to Visa’s Digital Enablement product suite – a set of tools and solutions aimed at helping issuers offer better digital experiences for cardholders. 

The release comes as the payments issuing giant continues its efforts to increase transparency and get a handle on the subscription economy.