MasterCard and Cardlytics inked an agreement to deliver targeted card-linked services to US banks of all sizes. The new partnership will match Cardlytics card-linked marketing solutions and advertising expertise with MasterCard’s bank partners and its offers and rewards platform to deliver a solution that is unsurpassed in the loyalty business.
Consumers continue to show a growing preference for card-linked loyalty offerings. According to Mercator Advisory Group, merchant-funded rewards drove approximately $4.7 billion in U.S. credit card purchases in 2014 and are expected to grow at an annual rate of 20% through 2020. Consumers now have the ability to receive relevant, location-based offers and rewards seamlessly through their preferred digital channel – be it a mobile device, personal computer or other form factor. With card- linked programs, the consumer simply makes a purchase with a U.S.-based debit or credit card, and the cash back reward is automatically deposited into their bank or card account or via statement credit.
MasterCard will tap into Cardlytics vast advertiser network to help its bank partners deliver compelling consumer offers both online and via mobile. Not only can this drive use of these channels, but also provides the opportunity for banks to increase card spend and usage while fostering its consumer relationships. The two companies will go to market with a joint solution providing multiple implementation options to make it easy for banks to integrate with the program quickly, regardless of their size.
Cardlytics is a purchase-based data intelligence platform that makes all marketing better. The Company partners with major financial institutions, including Bank of America, Lloyds Banking Group and FIS, to provide Card-Linked Loyalty programs, which deliver significant savings to customers and revenue to banks, securely and without any personally identifiable information ever leaving the bank. Headquartered in Atlanta, Cardlytics has offices in London, New York, Chicago, and San Francisco.
For data, background and forecasts on Cardlytics & MasterCard: Search CardWeb.com’s CardFlash® Library of more than 58,000 archived articles; Access CardWeb.com’s CardData® for current and historical Performance, Portfolios, Profiles, etc. Visit RAM Research® (ramresearch.com) for quarterly and annual forecasts covering more than 150 metrics. [complimentary or deeply discounted access to CardWeb.com subscribers].
Additional database resources include CardWeb.com’s CardExecs® – comings & goings of payments movers & shakers; CardWeb.com’s CardWatch® – ears & eyes on marketing globally (57K items); and CardWeb.com’s CardPixes® – form & function of card design (7K items).