Foursquare announced on Thursday its new partnership with American Express, and will offer cardholders discounts and other perks when they use the location-based service. Foursquare recently announced that it has surpassed 10 million users, and with this new partnership, it’s clear that the “check-in” craze isn’t going anywhere soon.
This is the largest partnership for Foursquare, and for American Express users, it could be a pretty sweet deal. Card users will have access to deals and specials for using the social networking, location-based application. However, Foursquare isn’t receiving any money from AmEx for this deal; instead, the partnership is intended to attract others in hopes that the start-up can create beneficial and long-term partnerships with other companies.
To start, American Express will offer deals at Sports Authority and the clothing retailer H&M, along with a few restaurants in New York, like Union Square Cafe and the barbecue joint Blue Smoke. For example, shoppers who spend $75 at H&M will receive a $10 credit to their American Express accounts. Those who spend $50 at Sports Authority will get a $20 reward.
For AmEx, partnering with Foursquare helps it target a younger audience.
“We don’t tend to skew under 35,” said Mr. Gilligan. “We hope this will help us stay relevant to younger customers.”
As an avid Foursquare user, the idea of future partnerships like this is exciting. I’ve often found myself making buying decisions based on deals offered via the location-based service, and the same goes with meals.
The fact that AmEx decided to partner with Foursquare also seals the service’s place as the go-to application for checking in. It could have gone with Facebook, Google, Gowalla and other similar products, but instead went with the company that probably does the whole check-in thing best. So, big congrats to the New York-based team, and hopefully those deals will keep rolling in.