News
Visa brings simplicity and convenience with subscription manager
Visa (NYSE: V), the global leader in digital payments, today announced the launch of Subscription Manager, a new end-to-end service for financial institutions to provide Visa cardholders with a simple, convenient way to track their subscriptions, all from the palm of their hand. your hands.
The global subscription market is constantly growing, expected to reach an astonishing $406 billion by 2025. As the trend of consumers subscribing to services in sectors such as retail, food and others increases, so does the challenge of managing your payments.
Visa’s new Subscription Manager simplifies key aspects of recurring payments in one place, allowing cardholders to see where their card details are stored, see which recurring payments are attributed to their card, and stop recurring payments.
“Browsing each platform’s unique terms can lead to unnoticed charges, even after canceling your subscription,” said Leila Serhan, senior vice president and group country manager for the 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.”
As consumer expectations for secure and seamless digital payments grow, it is crucial that issuers keep pace. An upcoming report from Visa supports this trend, revealing that 63% of consumers surveyed are comfortable with a future that depends entirely on digital money. The rapid introduction of new digital financial tools and services is driving this change, with consumers increasingly turning to apps and mobile wallets to manage their finances. The same report also found that more than half of consumers surveyed adopted the use of mobile wallets in the last year alone.
Subscription Manager is the newest addition to Visa’s Digital Enablement suite of products, a comprehensive set of tools and flexible solutions designed to help issuers deliver better digital experiences to their cardholders. The new solution supports Visa’s ongoing efforts to increase transparency and control in the subscription economy, building on initiatives like its 2020 mandate, which requires merchants to obtain cardholder consent after free trials or introductory promotions. before invoicing begins.
Subscription Manager is currently available in Egypt. For more information about this, as well as Visa’s issuance solutions and other value-added services for businesses, visit the Visa Developer Center.