Mastercard and Cardlytics partner to expand bank connections to card-linked offers
Mastercard and Cardlytics have formed a new partnership that will streamline the process for banks implementing Cardlytics’ card-linked marketing offers, and ensure that consumers can access offers online and via mobile devices, the two companies recently announced.
In particular, the partnership will make it easier for smaller banks to add Cardlytics’ services quickly to their menus through multiple implementation solutions, Mastercard said.
Cardlytics, founded in 2008, until now has built relationships directly with about 400 banks to provide cash-back rewards from different merchants for card purchases that consumers typically receive as a statement credit through banks’ online banking platforms.
Under the new arrangement, MasterCard will tie Cardlytics’ card-linked marketing solutions and advertising expertise with MasterCard’s own offers and rewards platform in a joint solution. Consumers may receive location-based offers and rewards via a PC or mobile device; the cash-back reward automatically is deposited into their bank or card accounts or via a statement credit, the companies said.
Merchant-funded rewards drove $4.7 billion in US credit card purchases in 2014, and are on track to increase at a 20 percent annual growth rate through 2020, according to research from Mercator Advisory Group.