Citi has partnered with Mastercard to bring a new subscription management tool to UAE cardholders, letting them track and manage recurring payments directly through the bank's mobile app.
The tool, called Smart Subscriptions, consolidates a customer's active digital subscriptions in one place, covering services such as streaming platforms and food delivery apps. Rather than scrolling through statements to spot recurring charges, cardholders can see them gathered in a single view within the Citi mobile banking app.
How the tracking works
Smart Subscriptions runs on Ethoca, a technology unit owned by Mastercard. Ethoca supplies itemized digital receipts that show exactly which merchant is billing a cardholder for a given subscription, giving customers clearer visibility into what they are paying for and to whom.
Mastercard says the tool can also reduce chargebacks and cut down on unnecessary payment stops that customers sometimes make when they don't recognize a recurring charge on their statement.
A global launch from the UAE
The Smart Subscriptions solution is being launched globally from the UAE, positioning the market as the starting point for a rollout that Citi and Mastercard intend to extend elsewhere.
Gina Petersen-Skyrme, Senior Vice President and Country Manager for the UAE and Oman at Mastercard, said: "The introduction of our Smart Subscriptions solution is a significant step in our joint efforts to shape the future of payments in the region."
Shamsa Al-Falasi, CEO of Citibank N.A., UAE and UAE Citi Country Officer and Banking Head, said: "Our collaboration with Mastercard to launch Smart Subscriptions globally from the UAE underscores Citi's commitment to delivering world-class digital capabilities that empower our clients."
For UAE cardholders juggling multiple digital subscriptions, from streaming to delivery apps, the addition gives a way to see where recurring payments are going without leaving the banking app, and offers a route to catching unwanted or forgotten charges before they need to dispute them with their bank.
Reported by Fintech News UAE.
