Case Study Giving consumers control over their subscriptions

Minna Technologies joins the Visa Fintech Partner Connect program, bringing its innovative technology which complements Visa’s existing APIs to solve an important pain point for consumers: transparent and effortless subscription management.

Minna Technologies participation in the program will allow European clients to offer their customers powerful and seamless tools to control a growing number of subscriptions from within the banking app.

• Identify and Cancel: The Subscription Management solution offered by Minna Technologies automatically identifies subscriptions, helping consumers to easily track how much they spend on this kind of services, and allows them to easily cancel and manage those subscriptions.
  
  The Identify functionality works by utilising an advanced detection engine and machine learning algorithm to analyse user transactions accessible through a combination of PSD2 APIs and could complement Visa’s Card-on-File Data Inquiry API.
  
  Cancel requests are conducted by Minna’s automated backend that sends details directly to service providers, and with an option to leverage Visa Stop Payment Service API to block further payments from the consumer’s account.
  
  
• Benefits: By embedding the Subscription Management solution into their existing digital channels, banking clients can expand their offering, provide an enhanced customer experience and tap into additional revenue streams. Consumers benefit too, gaining a transparent and convenient way to manage their day-to-day finances, as well as getting access to insights and advice.
  
  
• Implementation: Minna’s solutions integrate seamlessly into digital banking applications by either WebUI or API, or a combination of both. The turnkey WebUI option provides customers with a fast implementation, that includes an optimised, ready-to-deploy UI that helps reduce the development and resource costs for banks. The API option enables a more flexible integration, with customisation of the UI and user journey to create a seamless, fully-native deployment.
  
  
• Market Adoption and Opportunity: Minna currently provides subscription management services to over 18 million consumers across 7 European markets, enabling digital banking customers to Identify, Cancel and Switch their subscriptions in a simple and convenient way. By working with leading banks Minna connects consumers with a network of over 2,500 service providers.

Implementing subscription management is an excellent example of how Minna Technologies is enabling banks to help consumers solve real financial challenges. We are thrilled to help banks demonstrate leadership in this important area and our partnership with Visa, in the framework of Visa Fintech Partner Connect, is integral to our ability to bring power to modern consumers.

Joakim Sjoblom, CEO of Minna Technologies

With the popularity of subscription services growing recently it is more important than ever that consumers have visibility and control over the money they are spending. This new subscription management service is the result of the close partnership between Minna Technologies and Visa. Giving cardholders a view of what they are spending as well as allowing them to manage or stop their subscriptions. Digital commerce is evolving at a rapid rate and this collaboration is a great example of how Visa can bring together its partners to create innovative payments services for the benefit of consumers combining forces with best-in-class partner to deliver value to our clients. Subscription Management is one of many solutions that Visa is making available through the Visa Fintech Partner Connect program.

Mayank Somaiya, Head of Visa Fintech Partner Connect and Venture Partnerships Lead, Europe, Visa

More information about the solutions available through Fintech Partner Connect, visit the Fintech Partner Connect website.