Citi Launches Mastercard Subscription Management Tool in UAE

Citi has introduced Mastercard's subscription management feature, Smart Subscriptions, in the United Arab Emirates (UAE), marking Citi's first deployment of the technology globally and Mastercard's first in the Middle East, according to a press release on September 17. Citi cardholders can now monitor and manage all digital subscriptions connected to their Citi card within the Citi mobile banking app, as stated in the release.

Shamsa Al-Falasi, CEO of Citibank N.A. UAE, emphasized the launch's significance in enhancing transparency, control, and trust in the payments ecosystem. Rajeev Garg, UAE head of wealth at Citi, noted the growing role of digital subscriptions in everyday life in advanced economies like the UAE. Garg highlighted that this integration improves the cardholder experience, streamlines identification of subscription transactions, and fosters a better understanding of merchant billing relationships.

Mastercard launched Smart Subscriptions in March 2024 as a white-label subscription management solution for financial institutions. The solution enables consumers to manage subscriptions, cancel, pause or resume them, analyze spending, categorize expenses, view upcoming bills, and receive personalized merchant offers. Gina Petersen-Skyrme, senior vice president and country manager for UAE and Oman at Mastercard, revealed that this collaboration with Citi is a crucial step in shaping future payments in the region.

Victor Nordenson, executive vice president and global account management at Mastercard, emphasized how the partnership showcases Mastercard's ability to deliver innovation that can expand across markets through a blend of global scale and local insights. The PYMNTS Intelligence report from August 2023, "How Retail Subscription Merchants Can Win and Retain High LTV Customers," revealed that the ability to pause and resume services is critical for gaining and retaining customers in the retail subscription space.