Payment giant MasterCard is moving into the "daily deal" space. The company said daily deal content it offers will initially be powered by a collaboration with Local Offer Network, a deal aggregator. The hope is to reinforce the connection consumers have with merchants and MasterCard through mobile, social media and traditional shopping channels, MasterCard said.

"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 head of U.S. emerging payments, Mario Shiliashki said in the announcement. "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."

The new MasterCard Offers Services will expose merchants to a broad consumer base through a simple, easy-to-navigate technology system, MasterCard said. Additionally, card issuers will have access to relevant and geo-targeted offers from hundreds of local and regional merchants.

"Our partnership with MasterCard reinforces the continued value of the deals segment to shoppers, merchants and the financial institutions that serve them," LON CEO Dan Hess said in a statement.

MasterCard and Local Offer Network are aiming for the end of the second quarter to deliver specific offers programs to merchants and issuers.

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