April 18, 2012

MasterCard announced this week it is entering the increasingly popular "daily deals" space.

MasterCard said it is partnering with Local Offer Network, a deal aggregator and syndication firm, to deliver daily deals content by MasterCard to issuers and through other network programs. Through these activities, the card scheme said it hopes to reinforce merchant and issuer connectivity with consumers through mobile, social media and traditional shopping channels.

[Related: MasterCard Partners on Mobile Payments Program in Qatar]

"Increasingly, consumers are looking for a great deal and savings- whether that is in paper coupons or through digital channels that create a more enhanced holistic shopping experience," said MasterCard's Mario Shiliashki, group head, U.S. markets emerging payments lead, in a statement. "Our collaboration with partners like Local Offer Network will make MasterCard the ‘go-to’ offers solution for merchants and issuers looking for a stronger connection with our cardholders."

Through the program, the card company said merchants will have access to a broader customer base, and issuers will in turn have access to relevant and geo-targeted offers from hundreds of local and regional merchants.

MasterCard and Local Offer Network are working with issuers to deliver specific offers programs by the end of this quarter, the company said.

Bryan Yurcan is associate editor for Bank Systems and Technology. He has worked in various editorial capacities for newspapers and magazines for the past 8 years. After beginning his career as ...