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Mastercard Launching Smart Subscriptions To Enhance Financial Wellness
Mastercard announced it is piloting its Smart Subscriptions platform in the United States. The innovative service integrates into existing consumer applications to aid in subscription management. The new platform includes features such as expenditure categorization, spend analysis, and personalized offers and is set to transform consumer interaction with their subscriptions. Smart Subscriptions leverages Mastercard’s Subscriptions Control, which allows customers to pause, cancel, and resume subscriptions.
President of Data & Services at Mastercard, Raj Seshadri, commented about the new platform, stating, “No matter how many services you pay for, managing those recurring subscriptions should be simple and seamless. Smart Subscriptions acts on that insight, meeting the standards for effortless engagement that both banks and consumers demand. And when those standards are met, the true metric of success is loyalty.”
Along with insights into their subscription activities, consumers can better manage their finances and connect more seamlessly with their banks. A recent Mastercard survey showed strong consumer demand for a tracking tool, with 73% of consumers polled saying they were interested in subscription tracking tools. The Smart Subscriptions tool will potentially increase consumer engagement and loyalty while reducing chargebacks.
Learn more about payment methods with Mastercard:
https://www.mastercard.us/en-us/personal/ways-to-pay.html
Hyatt Partners with Future to Elevate Guests’ Wellbeing
Hyatt Hotels Corporation announced a partnership with the personal training platform Future to connect guests at 26 of its U.S. Hyatt Regency hotels with complimentary guided workouts. Future’s team of trainers developed the workouts, which are customized for each participating Hyatt Regency’s fitness center. The initiative builds on Hyatt’s commitment to well-being and its history of providing innovative offerings designed to help guests live happier lives.
Vice President, Global Brand Leader, Hyatt, Emily Wright, commented, “With travelers continuing to seek ways to prioritize their well-being and find convenient and productive ways to exercise and maintain their routines while away from home, we understand the importance of seamlessly integrating this into the guest experience. As a global brand with five decades of rich history and a reputation for seamless care, the new collaboration with Future is just one example of how we’re evolving the Hyatt Regency brand experience with personalized touchpoints to address the ever-changing needs of today’s travelers.”
Participating guests can access the guided workouts by downloading the Future app and scanning a QR code in their rooms or the fitness center. The workouts are available in various activities and fitness levels to meet a wide range of needs. Moreover, completing one of the workouts qualifies guests to receive a complimentary one-month membership with Future, valued at $199, perhaps motivating them to continue their fitness journey after their hotel stay.
Learn more about the Hyatt Regency/Future wellness program here: https://www.future.co/hyatt-regency
IHG Approves Vendors to Expand Digital Tipping
IHG has announced its approval of several new payment vendors to expand its capabilities to accept digital tips. The new vendors include Grazzy, eTip, TipBrightly, and Canary Technologies. The move comes as consumer behavior moves toward contactless payments and the increased use of QR codes for transactions. According to a Canary Technologies report, the 2023 State of Tipping in Hotels survey found that 70% of guests would tip more in hotels if they had a digital tipping solution, while 40% would prefer to tip staff digitally.
Senior Vice President of Global Guest Experience at IHG, Brian McGuinness, said IHG wanted to “meet guests where they are,” adding, “In recent years, we’ve seen customer behavior shifts to contactless payments and QR codes. Guests have told us they want a seamless and secure digital tipping platform to recognize hotel colleagues working hard to go above and beyond to make their stay excellent.”
Grazzy CEO Russ Lemmer also chimed in, stating, “The stage is set for digital tipping to become commonplace in 2024. Hotels and many other types of service-focused businesses recognize the importance of tips as a competitive tool in a tight labor market.”
More hotels and hospitality businesses have moved toward digital tipping solutions to enhance guest and employee satisfaction. Senior Vice President of Visa Direct, Yanilsa Gonzalez-Ore, said, “We are seeing an increase in market demand for a fast, reliable, and fully digitized tipping experience for hotel guests and employees in the hospitality industry.” Visa Direct powers eTip’s tech capabilities.
Unlock the full Canary Technologies report here: https://resources.canarytechnologies.com/rs/753-LTW-752/images/2023ReportStateofTippingHotels0223.pdf
Read More on Trends, Updates, and Industry Leaders
Original Article Links:
Mastercard Simplifies Subscription Management With Smart Subscriptions
IHG approves slew of hotel digital tipping solutions
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