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Foursquare signs Visa and MasterCard for check-in discounts

26 February 2013  |  8867 views  |  0 Woman with shopping bag

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.

KeywordsSOCIAL MEDIA

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