Gothenburg, 12th June 2019 – Today, Minna Technologies - the leading subscription management platform for retail banks - announces a strategic partnership with Visa. The global payments leader will work with Minna to scale its platform to Visa’s European retail banking clients, allowing them to drive more customer value by solving an everyday issue for many today: managing a growing number of subscriptions.
According to research conducted by Minna, Europeans are getting very frustrated with managing subscriptions services. On average, consumers in the region now spend €334 per month on seven different subscription services, and 1 in 3 unknowingly pay for services they no longer use. As customers demand more intuitive digital banking experiences, the partnership with Minna will help Visa’s bank clients to drive new engagement and revenues, by solving customers’ subscription-related problems.
Visa will work with Minna to enhance the functionality, simplicity, and security of its platform by implementing a number of Visa’s APIs. Bank customers using the Minna platform can now monitor subscription charges and payments; cancel subscriptions via their online bank; securely sign up to new subscription services without a card number, and ensure subscription service continuity even when cards are lost or stolen. The increased usability of the platform will subsequently allow banks to better serve the needs of consumers in an increasingly digital economy.
“We are beyond excited to enter a strategic partnership with Visa to help European banks deliver a best in class customer experience. This partnership makes it possible for us to accelerate our European growth plans, and to take our subscription management platform to the next level by leveraging Visa’s cutting edge APIs”, says Joakim Sjöblom, CEO, Minna Technologies.
“A critical part of our role as a network is to enable our clients to access simple, innovative solutions that make life easier and safer for their customers. The subscription economy plays an increasingly integral part of our everyday buying experiences. Our partnership with Minna will mean that our banking clients and partners can introduce an innovative new service within their banking apps, and utilize Minna’s existing relationships with a network of subscription billers”says Antony Cahill, Managing Director, European Regions, Visa.