Visa (NYSE: V), the leader in digital payments, has introduced Subscription Manager. This innovative service assists banking institutions in providing Visa cardholders with a simple method of monitoring their subscriptions. 

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The expanding worldwide subscription market is projected to reach $406 billion by 2025. The increasing number of subscribers to services in the retail and food sectors makes it more difficult to handle these payments. 

Visa’s Subscription Manager makes recurring payments easier. When necessary, cardholders can halt payments and view where their card data are kept. Also, they can identify which payments are associated with their card. 

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“Unnoticed charges may arise even after a subscription has been cancelled,” stated Leila Serhan, Senior Vice President and Group Country Manager for North Africa, Levant, and Pakistan. By streamlining the procedure, we hope to give cardholders more control over where and when their money is spent.” 

Issuers must adapt as consumer expectations for safer and more seamless digital payments grow. According to a recent Visa survey, 63% of consumers feel at ease with digital currency being the only form of payment in the future. More people are using apps and mobile wallets to manage their money. According to the research, more than half of the consumers began using mobile wallets within the last year. 

Visa’s Digital Enablement product package includes Subscription Manager. This suite provides issuers tools and solutions to enhance cardholders’ digital experiences. Visa’s efforts to improve governance and transparency in the subscription economy are bolstered by the new solution. This expands upon their 2020 regulation, which mandates that retailers obtain visa cardholder approval following promotions or free trials prior to charging customers. 

Subscription Manager is now available in Pakistan. Visit the Visa Developer Center for additional information on Visa’s other business services, including its issuing solutions.