It’s clear that foursquare is carving out its very own business model before our eyes. With the release of promoted updates within the Explore section of the app, the company wants to connect you with places you’ve never visited before.
To push that forward, its partner American Express is now offering a “spend $10, get $5” special at over 100K business on the foursquare platform.
Here’s what foursquare had to say about the promotion today:
As with all promoted updates and specials, you’ll only see them in your Explore results if they’re at spots we already think you’ll like. They might be places that are on your lists, places your friends have been to or liked, or places you’d likely want to check out given the time of day or neighborhood you’re in.
And, like all American Express specials, they’re super easy to redeem: just tap ‘Load to Card’ on the special screen and pay with your card! You’ll see a notification from foursquare about your savings in a few moments, and a statement credit on your bill in a few days.
Having a partner like American Express is pretty huge, albeit limiting, considering that not everyone carries one. I personally carry a Visa card and wish these opportunities were available to me. While I’m not sure that these features will get people to apply for an Amex card alone, saving money is always a draw.
For small businesses who look to foursquare to bring new customers through the door, this is a huge incentive to increase that foot traffic.
Wouldn’t it be interesting to see American Express acquire foursquare? It would turn holding one of their cards into a social experience and a way to turn foursquare into a payment app.