Support for card-linked offers (CLOs) that attempt to match merchants advertising discounts and other deals with credit and debit card buyers has been available from Mastercard for over a decade. Effectively, CLOs are a closed-loop system in which card issuers are publishers that present a merchant’s offer to their cardholders. CLOs are a steady revenue source for issuers. For merchants, they can provide a connection to new customers or a reconnection with those who have lapsed. Mastercard’s program generates a 22 times return on advertising spend (ROAS) for merchants, superior results ...