Since its debut in 2009, Foursquare has been steadily growing and so has “check-ins,” a term which Foursquare has coined and made famous.
Originally, Foursquare was a concept to reward loyalty by making the most frequent check-ins to an establishment earn bragging rights to be “mayor” and perhaps earn consumers a discount within that place. Now, Foursquare is partnering with American Express to offer consumers cash back rewards.
After a successful test market in Austin at the South by Southwest music event, American Express and Foursquare are rolling out a new promotion. The new partnership enables American Express card members to link their Foursquare profiles to their cards to earn loyalty-like rewards with Foursquare venues. The promotion will reward consumers for spending at retailers like Sports Authority and H&M, along with a few restaurants in New York, like Union Square Cafe and the barbecue joint Blue Smoke. As an 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.
Recently, the Pew Research Center found that only 7 percent of American adults use such services to share their location. In fact, key findings from this report indicate that a higher % of 18-29 year olds use location-based services, significantly more than online adults in any other age group. This is very attractive to American Express who is hoping to reach a younger demographic.
With over 10 million users, Foursquare is outpacing its rivals Gowalla with about one million users and Loopt with more than five million. Cash back rewards with American Express will be another way to help propel Foursquare’s growth with both consumers AND retail and entertainment establishments.
Now with Foursquare, you can check in AND check out with cash rewards.(photo)