Capital One is partnering with Minna Technologies to become the first major U.S. credit card issuer to offer subscription management tools in its banking app

As a first in the U.S. market, Capital One has partnered with Minna Technologies to offer new subscription management tools directly in the bank’s mobile app, enabling its credit card customers to purchase subscriptions from major merchants, including leading streaming media, publishing and Retail brands, view and manage.

By partnering with Minna, Capital One is the first bank in the U.S. to offer these tools to its customers at no additional cost and conveniently in its award-winning mobile app. In keeping with Capital One’s ongoing mission to create seamless and innovative digital experiences for its customers, they have also introduced the ability for eligible credit card customers to view and cancel recurring charges at select major merchants. Looking forward, Capital One and Minna plan to continue collaborating and innovating together to expand the experience.

Minna Technologies is an embedded financial technology company with a global network spanning subscription companies, retail banks and fintechs, enabling consumers to view and manage their recurring subscriptions in one place – including pausing, accepting offers, changing plans and renewing the subscription. They integrate with both banks and merchants to give them the ability to offer full lifecycle subscription management directly within banking apps, improving customer loyalty and reducing operational costs for both issuers and merchants.

The partnership between Capital One and Minna comes as the growing subscription economy is expected to reach a global market value of $1.5 trillion by 2025 – with increasing consumer demand for centralized subscription management. Minna’s latest research on the subscription economy* shows that more than a third of US consumers (37%) have increased their subscription spending compared to 12 months ago. The majority of subscribers (73%) are interested in a single app to view and manage all of their subscriptions in one place, and 61% would like to view and manage their subscriptions in their banking app, which 64% of subscribers say they do trust more than subscription platforms or app stores.

Matt Knise, Senior Vice President, Capital One, added: “Keeping track of recurring subscriptions and payments has become the new – and often stressful – normal for consumers. Whether it’s keeping track of rising costs or remembering all the subscriptions you’ve signed up for, it’s clear that consumers need a better way to better centralize and manage how their money is spent – and the partnership with Minna has allowed us to develop the tool to do exactly that.

“Being first to market with new expense management tools is an important part of our ongoing mission to provide our customers with financial clarity, simplicity and security. Our newest suite of spending tools is just the latest example of how Capital One is here for its customers, making it easy and safe to spend with complete confidence and conveniently manage it all in one place.”

Amanda Mesler, Chairman and CEO of Minna Technologies, said: “In the digital age and as part of the continuous exchange of value in the burgeoning subscription economy, it is critical for banks and subscription companies to provide their customers with control, convenience and flexibility in viewing and managing their recurring expenses. With the rise of recurring revenue models and regulatory developments highlighting the importance of protecting consumer interests when managing subscriptions, seamless subscription management is becoming increasingly important – for banks, subscription companies and subscribers.

“We look forward to continuing to develop this solution with Capital One, delivering best-in-class, intuitive subscription management solutions and a seamless customer experience that benefits consumers, merchants and the bank.”