In anticipation of the launch of Foursquare’s 3.0 platform, the company has partnered with American Express in a move that signals the future of mobile payments.
American Express and Foursquare will kick off their partnership at SXSW this week – allowing American Express card members to link their account information to their Foursquare profile. Beginning with 60 merchants in Austin, AmEx card members and Foursquare users will receive special location-based offers from merchants by using their AmEx cards. At first, the offers will be mostly of the ‘spend $5, save $5′ variety, with the opportunity for more targeted offers as the partnership gains scale. Of course, you must first link your AmEx – then check in places through Foursquare, before you start receiving AmEx-exclusive offers. Check-in will have to be done via Foursquare, as swiping or using your AmEx card will not automatically check you in. Foursquare integration with your AmEx card may be in a future roll-out, but is not part of the current partnership (as that will likely require different technology across the card member base).
The partnership further opens the door for the future of mobile payments – with the ultimate vision of being able to pay for your meal, products or service received directly from your mobile. By being the first to partner with one of the most recognizable properties in the location-based services space – right before the launch of Foursquare’s 3.0 platform – AmEx and its partner merchants now have the opportunity to create targeted, useful and beneficial offers for their customers – and to be one of the innovators in the mobile payments space.
We hope to hear from those of you attending SXSW how this partnership plays out in Austin, in practice – and look forward to seeing national offers around our next check-ins.