Dive summary:
- Foursquare announced a new partnership with MasterCard and Visa that will offer discounts to users who make purchases at participating locations and sync their credit cards to the app.
- Foursquare will earn a fee from all transactions from the new program, but the amount has not been disclosed.
- While this deal is similar to Foursquare's previous arrangement with American Express, that model did not produce revenue for Foursquare.
From the article:
"In an effort to urge users to redeem more of these offers, Foursquare will also be making them more prominent within the app. Users will now be able to see in their profiles which cards they've synced to their account and all the savings they've had over time. And offers from a credit card company will be differentiated with their own symbol from other "specials" put out by nearby merchants."