Mastercard introduces subscription management tool

Mastercard has launched an Open Banking-powered subscription management tool that financial institutions can plug into their consumer banking applications.

The payments giant said that Smart Subscriptions allows users to analyse their spending, categorise their expenditure, and receive personalised offers. The tool also uses Mastercard’s subscription technology to enable consumers to cancel, pause and resume subscriptions.

According to recent survey by Mastercard, around 73 per cent of consumers say they would be interested in a tool which helps them identify and track their subscriptions, with 60 per cent of consumers trusting their bank with such a tool.

Mastercard says that the new tool will “drive loyalty and engagement” from consumers who will also benefit from the overview into their financial wellness.

The technology is currently being trialled in the US, with the tool expected to be available across further international markets later this year.

"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.”



Share Story:

Recent Stories


The future-ready CFO: Driving strategic growth and innovation
This National Technology News webinar sponsored by Sage will explore how CFOs can leverage their unique blend of financial acumen, technological savvy, and strategic mindset to foster cross-functional collaboration and shape overall company direction. Attendees will gain insights into breaking down operational silos, aligning goals across departments like IT, operations, HR, and marketing, and utilising technology to enable real-time data sharing and visibility.

The corporate roadmap to payment excellence: Keeping pace with emerging trends to maximise growth opportunities
In today's rapidly evolving finance and accounting landscape, one of the biggest challenges organisations face is attracting and retaining top talent. As automation and AI revolutionise the profession, finance teams require new skillsets centred on analysis, collaboration, and strategic thinking to drive sustainable competitive advantage.