The news: Visa enhanced its subscription manager services for participating issuing banks, per a press release.

This update lets users view, manage, and cancel recurring subscriptions made on a Visa card through their banking app.

Why this matters: Consumers want in-app bill management, especially as subscription-based payments grow: The average US adult spends $1,080 per year on subscriptions, and nearly $200 per year on unused subscriptions, per CNET’s 2025 subscription survey. 

• 32% of respondents to our 2025 US Mobile Banking Emerging Features Benchmark said the power to view, pause, and manage subscriptions is “extremely valuable,” making it the second most desired banking feature.
• 75% of consumers expect in-app bill management, per a January 2025 survey conducted by Pinwheel.
• And over 50% of millennials and Gen Zers would switch banks to get access to this service, per the same survey. 

The problem for banks? Zero of the US top 10 financial institutions offer this service to their members, per our benchmark—giving Visa a strong pitch to issuing banks to close this gap. 

Visa’s enhanced subscription manager can also help issuing banks catch up to fintech competitors like Rocket Money and PocketGuard that already offer these services. Rival Mastercard has offered comprehensive subscription management with Smart Subscriptions since 2024—putting pressure on Visa to catch up.

Implications for banks: Onboarding into a program like Visa's or Mastercard's to let members manage and cancel their subscriptions is vital for retaining younger customers. With half of Gen Zers and millennials ready to defect to another provider that offers this convenience, significant investment in mobile banking features and in-app experiences can help retain clients.