An ideal partnership, matching consumers and their shopping preferences with their preferred credit card company. An innovative way to facilitate the purchase process. "Foursquare users are accustomed to receiving awards in the form of coupons and digital merit badges. But more substantial deals like those being offered to American Express cardholders may bring Foursquare and other location-based services further into the mainstream." As consumers get closer and closer to managing purchases with their smartphone, this arrangement gets Amex one step closer to the process. And it further cements the relationship between retailer and purchase process with deals and coupons as the glue.
"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." I have been reluctant to join Foursquare, but these kinds of deals get me to reconsider. And I am betting that others will feel the same.
Rewarding loyalty has its rewards and both Amex and Foursquare should see this partnership paying healthy dividends. I look forward to seeing how this partnership can further evolve.
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