In your program, there are three types of Offers; a Merchant Offer, a Program Offer, and a Program Campaign.
In a Merchant Offer, the Merchant determines the details, including the reward amount that is received by Members who make an eligible purchase. Before the Offer is made active, the Program Operator has to approve the Offer, or, if the Program Operator is not happy with the Offer, they can reject it.
A Program Offer is an Offer for a single Merchant created by the Program Operator. The Offer is agreed upon between the Merchant and Program Operator out of band. This acts as an 'always on' Offer for the Merchant.
Finally, a Campaign is an Offer created by the Program Operator. The Program Operator comes up with the details for the Offer and can invite one or more Merchants to participate. A Merchant must accept the invitation to participate. A Merchant can reject the Offer if they wish.