Oct 21, 2021

How to manage online subscriptions effectively

When it comes to online transactions and services, we all are a part of the legendary subscription model. It is an enormous idea that has taken over almost all e-commerce websites. Be it an online magazine, Youtube premium, or Cult.fit -subscriptions are everywhere. It is just something you need to keep all these services handy with a bit of investment. 

This paradigm has dramatically gained popularity, especially amongst teens and adults, whereas a significant rise was observed amidst the lockdown. 

So, let us understand the actual meaning of subscriptions and understand the reason behind the spotlight for a number of companies and consumers. 

Firstly, as a consumer- subscriptions are everything that you need at your fingertips, without the hassle of finding content or a perfect provider. To illustrate this situation, Spotify would be the perfect example. It provides a design targeting the youth and music listeners. The model offers several options for you to select from according to your needs. From a mini subscription of a day to a discounted combo subscription of several months, they have it all! 

Keeping the consumers in mind, they’ve designed pocket-friendly plans for people that caught a lot of attention. 

If you desire all the popular originals such as Coco on Disney+, F.R.I.E.N.D.S on Netflix -plus exclusive access to deep movie catalogues on HBO Max and Amazon Video, things get expensive pretty fast. 

Then there's the music you hear, the workouts you stream, the books you read, and the video games you play. 

Every piece of content you consume has a subscription service that will bill you. So that prompts the issue: Are you even paying attention? Unless you meticulously examine each month, a small bump in price on your favourite streaming service—or a free trial automatically converting into a paid subscription—is easy to miss. 

Although the manual way of maintaining your subscriptions is top-notch, it is not always possible to keep track of the things you spend on. Many services require the merchants to get a cardholder's approval at the end of a trial before they start the billing, but that's just for free trials. Some apps and websites will notify you when a service hikes its prices and help you cancel any services you're not using. Many also provide financial aid services. But being the keeper of your treasure, you must find the right way to protect it. 

To put it simply, when it is advised not to use the same password for all your accounts, then why risk it with your bank credentials? Does it make sense? If you're looking to cut costs and expand your budget, ZeroBalance might just have the trick that helps organize your subscriptions. It offers you the facility of providing multiple virtual cards to a consumer for various uses. 

Now before you say it, issuing a virtual card does NOT require your bank details. While providing you with an enhanced level of security, ZeroBalance firmly believes in transparency. To help you manage your money efficiently, it also can generate a virtual card for a group of people to share a card and split the bill. 

Adding to the perks would be your control over the flow of funds and One-time virtual cards. Since these cards are pre-paid in nature and are not linked to your bank, you can manage the money and have enough just for your needs. 

One-time virtual cards, as the name suggests, are generated which close themselves automatically after the transaction is complete. It doesn't require you to remember the website as your subscriptions already show on the dashboard. 

Thus, coming to an end, one cannot deny that subscriptions have taken all over and it has been hard to cope up. These virtual cards are the future of fintech and are a key to managing your reserves. These can be utilized for multiple purposes such as subscriptions services, bill payments, online shopping, and whatnot. There is a diversity of apps that let users add, maintain and track subscriptions. ZeroBalance advises making sure to use strong passwords on your phone and in the apps. Some of these apps market the point that their notifications allow you to make every payment on time, but you need to remember that many of these bills are already automatically deducted from your account and start acting upon it.

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