According to RBC, Visa is developing a service that will allow you to delete your card data from third-party sites. It will also help you keep track of your subscriptions and cancel them on time.
Now Visa is looking for partners to launch the project. The service will be embedded in the mobile application of the bank where the Visa card was issued – it will not work to track the data of other cards (Mastercard, for example).
A universal subscription management service, in our opinion, is a rather popular service now, when most online services use a subscription model.
Head of Transactional Business, Otkritie Bank
Indeed, monitoring subscriptions is becoming more difficult every year: their number is growing, and charges are made on different days and for different amounts. It happens that you miss a reminder to cancel your subscription, and that's it – pay another month, if not a year.
In the new Visa service, users will be able to see a list of sites on which map data is indicated, and quickly cancel their subscription:
Currently, when a user associates his card with a service, for example, a taxi, the acquirer bank, on its side, stores client card data. In this case, the bank will not store card data, but a payment token, by analogy with wallets (Apple Pay and others). It is much safer.
Director of the Department of Electronic Business ICD
Visa did not comment on the work on the service, so there are no deadlines for launching.
How to track subscriptions if you use Mastercard?
You can, of course, use a calendar and reminders, but this is only suitable for those who have few subscriptions. If there are more than five, download the appropriate application. The choice in the App Store is huge, but, in my opinion, the best option is Bobby.
There are a huge number of templates, but if something is missing, you can always add your own service.
The application has built-in purchases: there are three packages of 75 rubles each – adding an unlimited number of subscriptions (only five in the basic version), a password for the application and additional themes. All at once offer at a discount.
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