Check In, Get Cash Back: Foursquare Teams with American Express
In a sign of things to come for location-based services, Foursquare has partnered with credit card company American Express to give AmEx card holders discounts when they check-in at some New York businesses.
According to the New York Times, it works like this: Check in at clothes store H&M and spend $75 and get a $10 credit to your AmEx account. Similar promos are being offered at places such as the Union Square Cafe and Sports Authority.
Foursquare beta-tested the program at SXSW this year. Henry Blodgett reported in Business Insider that according to Amex, cardholders who participated in the SXSW test spent 20% more than cardholders who didn’t. The test version of the Foursquare tie-up brought a “higher response rate than anything else we’re doing,” AmEx vice chairman Edward P. Gilligan told the NY Times.
From where we sit, it seems a logical next step would be introducing this to chain retailers or fast food establishments that could roll it out quickly and who are always looking for an incentive to spur impulse patrons. An exciting prospect for foursquare users. What do you think? Will this influence where and when you check in?