Mastercard has partnered with Subaio to launch a subscription control tool that helps consumers manage and unsubscribe from their recurring payments. This tool aims to address the challenge of keeping track of multiple subscriptions and offers control to consumers through a trusted source.
Facts
- Mastercard has collaborated with Subaio, a startup from its Start Path program, to develop a solution for managing subscriptions.
- The solution is being offered to banks in North America and Europe.
- Through a single API, banks can provide their customers with subscriptions control, digital receipt viewing, and access to merchant details.
- Consumers can manage their subscription payments and unsubscribe directly from their bank’s mobile app.
- In the US, consumers have an average of 12 media and entertainment subscriptions, while millennials have an average of 17.
- Mastercard aims to address the challenge of tracking and unsubscribing from recurring payments, which has become increasingly difficult due to the growth of such transactions.
- This solution empowers consumers by giving them control over their subscription payments and puts the power back in their hands.
