Westpac data revealed customers are now spending approximately $6.7 billion annually on subscriptions. And according to Westpac research three in ten (31%) Australians admit that they are actually wasting money on seemingly duplicate or mostly unused services. In a so-called Australian banking first, Westpac clients will soon be able to view and cancel subscriptions directly via the Westpac app.
Developed with assistance from Mastercard, the feature will give customers a full picture view of all their subscriptions with “the ability to view and cancel unused or unwanted services.”
Carolyn McCann, Westpac Chief Executive of Consumer, says the feature could be useful for Australians who are “paying for unused subscriptions each month.”
McCann added that managing subscriptions can be a pain.
With so many services on auto-renew, it’s “easy to lose track of what you’re paying for.”
Currently, customers must contact each subscription company “separately to cancel a service.”
Their new feature will mean they can “do it all conveniently from the Westpac App.”
Westpac added that it is putting the power “back in the hands of our customers, helping them accurately see what they’re subscribed to and cancel what they don’t need – all in just a couple of taps.”
Notably, Westpac research has found that “two in five (40%) of Gen Z and Millennials review their personal spending less than once a month. It also uncovered Australians are spending approximately 20 per cent more on subscriptions than they realise.”
McCann also stated that meaningful money management tools “are about more than just being able to check a balance.”
They want to give customers the power “to act and manage money simply and efficiently.”
As explained in the update, this tool will “help customers spot what’s not working for them and cancel it on the spot, giving them visibility and control, and making money management easier.”
Dan Martin, Country Manager, Australia at Mastercard said that subscriptions have become “an everyday part of Australian life but managing them hasn’t always been simple.”
Together with Westpac they’re “helping cardholders take control, giving them the visibility, choice and confidence to manage their subscriptions securely, all within the Westpac App.”
The feature will start rolling out “to customers in the Westpac App early next year.”
This feature builds on Westpac’s recognition as one of Australia’s banking apps from Forrester, following the development of other customer-focused money management tools like Savings Finder, Bills Calendar and Budget Planner.
The research was reportedly commissioned by Westpac in “accordance with the ISO 20252 standard, where 1,995 Australians aged 18+ were surveyed online in July 2025.”
Data was weighted to the latest population estimates that were “sourced from the Australian Bureau of Statistics.”