Mail Merge Hyperlinks
To Mail Merge a hyperlink you new two columns in your Google Sheet. One column to hold the URL and the other column to hold the display text for it.
Column C holds the url. This column name should have the <link|[Column Letter]> tag (for example "<link|D> Certificate".
The letter after the | character represents the column letter from which to get the display text for the hyperlink.
Insert the *|<link|D> Certificate|* merge field into your Google Document template or Email Body template just like you would with any other merge field.
Hit the Merge button as you're good to go!