Mastercard has launched an open banking-powered solution which seamlessly integrates into consumer banking applications.

Smart Subscriptions goes beyond basic management functions, offering additional features such as individual spend analysis, expenditure categorisation, and personalised offers. By leveraging Mastercard’s Subscriptions Control solution, Smart Subscriptions allows consumers to easily cancel, pause, and resume their subscriptions as needed.

According to a Mastercard survey, there is significant interest among consumers in tools that facilitate subscription management, with 73% expressing interest in such a solution.

Currently undergoing pilot testing in the U.S., the offering is poised to bridge the gap between comprehensive subscription management and personalised banking experiences.

It is expected to be rolled out in additional markets later this year.

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