How Smart Subscriptions helps issuers

Increased chargebacks. One of the significant challenges issuers face is the high volume of chargebacks resulting from recurring transactions. Consumers may not recognise a transaction or not know how to cancel their subscription, so they keep in touch to their issuer to initiate a chargeback to stop a recurring payment.  

Higher operational costs. When consumers struggle to effectively recognise, cancel or pause their subscriptions, they frequently contact their issuers to dispute these transactions. This causes an increase in support enquiries as call centre agents must handle each case individually.

Increased competition. Consumers are looking for better ways to manage their subscriptions and many new providers are offering solutions. Issuers who can create a more seamless subscription management experience will hold a competitive edge. 

Reduce chargebacks. By giving consumers more insight and control over their subscriptions directly in digital banking channels, issuers can reduce chargebacks caused by unrecognised transactions or consumers looking to stop a recurring payment by initiating the dispute process. 

Provide more self-service options. Enabling consumers to manage their subscriptions in one place, their digital banking channels, gives them more self-service options that can help lower call centre volume and support costs. 

Deliver better subscription management tools. By delivering a more holistic subscription management experience, issuers can create a digital banking experience that stands out from the competition and attracts consumers.