Foursquare + Amex @ SXSW
Interesting promotion Foursquare and Amex have developed for SXSW this year. It's all pretty benign and promotional, but the last paragraph points to where Foursquare could get a whole lot of #winning in the future. Via BI
Here’s the basic gist: American Express cardholders will be able to tie their cards into their Foursquare accounts beginning next week. This will allow Foursquare users to get special offers from merchants simply by swiping their cards to pay for things in Austin. 60 local merchants will apparently be involved in the promotion. So what type of deals will Foursquare/Amex users get? The main ones will be “spend $5, save $5″ deals, WSJ reports.
There will be other offers pushed out to customers via mobile devices as well. One thing that’s not a part of this partnership: checking-in. You won’t be able to swipe your credit card to check yourself in to a venue just yet, we hear. But eventually, that is a part of the plan as the program evolves. Also not a part of this partnership: money for Foursquare.
This isn’t a revenue-generating program for them. Instead, it’s a test of a way to eventually make money. And if it works, there’s potentially a lot of money to be made down the road. Foursquare could become the loyalty layer on top of credit cards. That could be a win for credit card companies, for venues, and for Foursquare.
Will be interesting to see where this goes.
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