Atomic announced subscription management technology that can be added to banking apps.
With the addition of PayLink Manage, financial institutions will now allow account holders to view and change all recurring payments in real time, all within the banking app, the company said in a press release on Tuesday (May 21). mentioned in.
“We believe that within a few years, subscription management will become a must-have feature in major consumer banking applications,” Jordan Wright, co-founder and CEO of Atomic, said in a release. “There is,” he said.
According to the release, Atomic's technology will create an integrated experience that allows users to view all their recurring payments, including subscriptions and bills such as streaming services, phone and internet plans, car insurance, and rent or mortgage payments. They say they will provide it.
According to the release, that direct connection will give users access to insights into usage data, plan details, receipt statements, and other subscription information.
Users can not only see their recurring payments, but also take action on them in real time, helping them find ways to save money, according to the release.
According to the release, the new PayLink Manage integrates Atomic, which is used in other solutions to connect consumer data to financial solutions by enabling access to payroll, human resources information systems (HRIS), and merchant systems. It is said that it utilizes technology.
“With this release, we extend our trusted and robust connectivity framework to subscription management, strengthening customer engagement and increasing retention by empowering people to take actions to improve financial outcomes. tools to financial institutions,” Atomic said in a release.
In another recent entry into this space, Visa announced in April that it was launching a subscription management service that financial institutions can offer to Visa cardholders.
Visa's service provides a single place where consumers can see where their card details are stored, view any recurring payments due to their card and stop any recurring payments.
Mastercard announced in March that it was piloting a subscription management solution that financial institutions could add to their consumer banking services.
Mastercard's smart subscription solution allows consumers to cancel, pause, and resume their subscriptions. Analyze and categorize your spending. See upcoming bills. Receive personalized offers from sellers.
Smart Subscriptions is being piloted in the US and will launch in other markets later this year.
More information: Atomic, Banking, Banking Apps, Digital Banking, Financial Institutions, Mobile Apps, News, PYMNTS News, Subscription Commerce, Subscription Management, Subscriptions, Latest News
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