The link in the email could be a direct link to Mercury's website, rather than one that passes through a third-party HTTP redirect service.
Authentication tokens (even tertiary ones) usually are supposed to have pretty strong secrecy guarantees. I've done multiple security audits for SOC, PCI, HIPAA, etc., and in every case the auditors would have balked if I told them signin tokens were being unnecessarily logged by a third-party service.
(Also: I strongly disagree that the only way to get reliable delivery is via a third-party email service, especially at Mercury's scale, but that's a digression from the topic at hand.)