This post was originally published on The FinTech Times
Subscription services continue to prevail over other business models in the UK. However, one in three subscription holders (equivalent to around 15.9 million people) have noticed a subscription payment coming out of their bank account that they could not recognise or had forgotten, according to new research by online prepaid payment firm Recharge.
Through a survey of 2,000 UK adults, conducted by Opinium Research, Recharge found that Brits earning over £40,000 per year (61 per cent) are more likely to notice an unrecognised subscription than those earning between £20,000 to £40,000 per annum (33 per cent).
In addition, male subscription holders are twice as likely as female subscribers to identify multiple unrecognised subscription payments. The survey also found that Londoners are 120 per cent more likely to spot an unfamiliar subscription charge compared to the rest of the UK (30 per cent). Meanwhile, Brits in the West Midlands are least likely to notice an unrecognised subscription (21 per cent).
Günther Vogelpoel, CEO of Recharge
Günther Vogelpoel, CEO of Recharge, said: “Unrecognised subscriptions are having a significant impact on Brits, impacting their ability to purchase
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