Are Card Linked Offers the Future of Rewards Programs?

So, there's this new report out by PYMNTS Intelligence and BANYAN, and it's all about this cool thing called Card Linked Offers (CLO). Basically, it's about how people are really getting into using these offers where you link them to your card and get rewards when you shop.

This company in the UAE called mimojo is jumping on this trend, and they're the first ones to bring it here. They're partnering up with more stores and even big card companies like Mastercard to make it happen.

The CEO, Chris Shaw, is pretty excited because this report shows that once people try these offers, they love them and keep using them. Like, almost everyone who tries them plans to keep using them for the next year. And get this, over half of cardholders say they'd switch to a store just because they offer these linked offers.

What's even cooler is that younger folks, like Gen Z and millennials, are really into it too. They're even planning to use these offers more in the coming year.

But, there's a bit of a hiccup. About a quarter of people don't really understand how these offers work, so mimojo's gotta make sure they explain it well to everyone.

Mimojo itself is like a game-changer in the rewards world. Instead of collecting points or carrying around loyalty cards, you just link your Visa or Mastercard to the app, and bam, you start earning cashback with every purchase. They just added some big names like Al Boom Retail and Drink Dry to their list of partner stores, which is pretty exciting.

Overall, it's all about making rewards simpler and more rewarding for both shoppers and stores alike.