Mastercard Simplifies Subscription Management With Smart Subscriptions
12 3월 2024 - 9:00PM
Business Wire
The streamlined solution provides more
transparency into financial wellness
Mastercard today unveils Smart Subscriptions, an open-banking
powered subscriptions management solution that financial
institutions can easily plug into their consumer banking
applications. Beyond basic management functions, Smart
Subscriptions delivers individual spend analysis, expenditure
categorization, and personalized offers all in a single
user-friendly experience. It leverages Mastercard’s Subscriptions
Control solution, introduced in 2023, that allows consumers to
cancel, pause and resume their subscriptions.
According to a Mastercard survey, 73% of consumers indicated
they’d be interested in a tool that would help them identify,
track, cancel, or renew subscriptions, and 60% of consumers trust
their bank with such a tool. Smart Subscriptions connects multiple
accounts into one central hub using Mastercard’s open banking
technology, provided by its U.S. open banking arm Finicity. The
white-labeled, payment- and network-agnostic solution is uniquely
configured to allow any bank to implement with a single, low-lift
API. Smart Subscriptions merges the needs for convenience and
control, providing unique value to both financial institutions and
consumers: Financial institutions can drive loyalty, increase
engagement, and reduce chargebacks, while consumers benefit from a
simple interface that unlocks greater visibility into their
financial wellness and access to personalized insights and
offers.
"No matter how many services you pay for, managing those
recurring subscriptions should be simple and seamless,” said Raj
Seshadri, president of Data & Services at Mastercard. “Smart
Subscriptions acts on that insight, meeting the standards for
effortless engagement that both banks and consumers demand. And
when those standards are met, the true metric of success is
loyalty.”
With sight into individual subscription activities, including
detailed payment history, upcoming bills, and subscription
cancellation, Smart Subscriptions enables greater transparency to
where the consumer’s money is going and provides more tools to
manage those transactions. And with personalized insights and
tailored merchant offers, consumers can connect more deeply with
their financial institution and save money at merchants they
frequent, right within their banking app.
Currently being piloted in the U.S., Mastercard’s Smart
Subscriptions bridges the demand for comprehensive subscription
management and personalized offers with the desire for enriched
banking experiences and is expected to be available in additional
markets later this year.
About Mastercard (NYSE: MA)
Mastercard is a global technology company in the payments
industry. Our mission is to connect and power an inclusive, digital
economy that benefits everyone, everywhere by making transactions
safe, simple, smart and accessible. Using secure data and networks,
partnerships and passion, our innovations and solutions help
individuals, financial institutions, governments and businesses
realize their greatest potential. With connections across more than
210 countries and territories, we are building a sustainable world
that unlocks priceless possibilities for all.
www.mastercard.com
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version on businesswire.com: https://www.businesswire.com/news/home/20240312014594/en/
Media Courtney Meola,
Mastercard 914-306-4428 | courtney.meola@mastercard.com
MasterCard (NYSE:MA)
과거 데이터 주식 차트
부터 4월(4) 2024 으로 5월(5) 2024
MasterCard (NYSE:MA)
과거 데이터 주식 차트
부터 5월(5) 2023 으로 5월(5) 2024