MASTERCARD, CARDLYTICS PARTNER ON CARD-LINKED LOYALTY FOR BANKS
October 29, 2015
By PYMNTS @pymnts
What’s Next In Payments®
6:00 PM EDT October 27th, 2015
MasterCard is teaming up with Cardlytics to bring new card-linked loyalty offerings to U.S. banks of all sizes.
The collaboration will bring the card-linked marketing solutions and advertising of Cardlytics to MasterCard’s bank partners, allowing them to deliver “unsurpassed” loyalty solutions.
“Card-linked marketing is a frictionless way for consumers to get more value from their shopping experience, and for merchants to drive more sales at a higher return on their advertising dollar,” Christopher Bond, SVP Loyalty Solutions at MasterCard, said in a press release yesterday (Oct. 27). “By partnering with Cardlytics, we can provide a proven, loyalty-driving solution to our partners in the form of a compelling offers program with high-quality advertisers, and reward consumers based on the kinds of purchases they’re making already.”
With an increased preference among consumers for card-linked loyalty offerings, MasterCard will leverage Cardlytics advertiser network to enable its bank partners to provide compelling loyalty offers to both online and via mobile.
According to Mercator Advisory Group, merchant-backed rewards drove nearly $4.7 billion in U.S. credit card purchases last year, with an anticipated annual growth rate of 20 percent through 2020.
Through the new partnership, MasterCard and Cardlytics aim to ensure consumers of U.S. banks are able to receive relevant, location-based offers and rewards seamlessly through their preferred digital channel.
With card-linked programs, the purchases consumers make with a U.S.-based debit or credit card automatically result in the cashback reward being deposited into their bank or card account or via statement credit.
“MasterCard is an innovator and leader in serving financial institutions of all sizes,” Lynne Laube, COO of Cardlytics, explained. “They are an ideal partner as we look to expanding our loyalty platform and we look forward to delivering more effective and measurable rewards for consumers.”