Location-based social networking outfit Foursquare has struck a deal with Visa and MasterCard that will see cardholders receive discounts for checking in at certain retailers.
The deal - which replicates an arrangement Foursquare has had in place with American Express for some time - means that users can sync their account with their debit or credit card. Then, when they check in at participating retailers, they will get a discount if they use the card for a purchase.
Foursquare gets a fee from the card firms each time an offer is redeemed, product manager Noah Weiss told AdAge, adding "this is going to be a pretty core part of our revenue model going forward".
The new service is based on First Data's OfferWise technology, enabling users to sync their card, and then swipe at check-out to receive automatic savings.
The first merchant on board is Burger King, which will give visitors to its 8000 US restaurants a $1 dollar discount on purchases over $10 if they check in.