The loudest conversations at Money20/20 in Las Vegas this month were about stablecoins, buy now pay later, and AI agents. Rory Mitchell wanted to talk about something older: the card swipe. M
The loudest conversations at Money20/20 in Las Vegas this month were about stablecoins, buy now pay later, and AI agents. Rory Mitchell wanted to talk about something older: the card swipe.
Mitchell, chief business officer for Cardlytics, sat down with TheStreet Roundtable and said the company’s data doesn’t come from blockchains or other public ledgers.
“The data is coming directly from the commerce partner or the bank,” Mitchell said. “We don’t curate anything, we don’t buy anything, we don’t overlay anything.”
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Cardlytics sits inside banking apps and, increasingly, other consumer apps, using their transaction data to serve targeted cash-back offers. Advertisers use the data to measure what drives sales, while banks and publishers use it to keep customers engaged.
“We see one in every two credit card transactions in the United States and in the U.K.,” Mitchell said.
Cardlytics is widening that reach. In July it expanded its card-linked offers to Monzo customers in the U.K., where revenue rose to $14 million in the first half of 2026 from $12.7 million a year earlier. Second-quarter revenue of $36.9 million was up about 7.5% from the first quarter, a sign the business is steadying.
Asked how Americans are spending, Mitchell pointed to the basics.
“We have seen this for a long time, a heavy, heavy index on everything related to everyday spend,” he said. “I think they’re very hungry for richer, deeper, consistent offers.”
He also said luxury advertisers absent from the category for years are coming back, an observation Cardlytics hasn’t backed with published figures.
Consumers expect “consistent, always-on offers,” Mitchell said. “We continue to see that those categories will likely excel in the years to come.”
Mitchell’s case is that Cardlytics owns something hard to replicate: first-party transaction data at a massive scale, delivered inside apps people already open every day.
