Industry News

Foursquare teams up with MasterCard and Visa for user discounts

Foursquare, the #1 location-based social networking website for mobile devices has announced the expansion of its Foursquare Specials for Credit Cards program to accept Visa, MasterCard and most debit cards.

The model shows an interesting way of combining smartphones, credit cards and discounts. Customers syncronise their credit cards with Foursquare and then receive discounts when they use a synced card to make a purchase at a participating establishment where they’ve checked in with Foursquare.

4sqThe discount appears as a credit on the cardholder’s monthly statement.

The program can be used by well-known retailers in the US, like Dunkin’ Donuts, Burger King, Nike, and Whole Foods.

When a user visits a Burger King, checks-in and spends at least $10, they will receive a $1 discount. Foursquare will earn a commission when a user checks in and redeems an offer using their Visa, MasterCard or American Express. No surprise, then, that Foursquare is also placing offers more prominently in its app. User profiles will now show cards synced and savings earned over time.

To promote the offers, Foursquare will continue to make them more prominent within the mobile application. Users will be able to view in their profiles what cards they synchronized and the lifetime savings they have earned. Over time, more retailers will be added and influencing users to continue using the location-based mobile app.