Location-based social networking firm Foursquare has reached an agreement with Visa and MasterCard that will see cardholders receive discounts for checking in at certain retailers.
Under the terms of the agreement, users will have the ability to sync their account with their debit or credit card. A discount will then be available if they use the card when checking in at participating retailers. The partnership mirrors a similar agreement Foursquare has held with American Express for some time.
Foursquare gets a fee from the card firms each time an offer is redeemed, product manager Noah Weiss told AdAge, adding “this is going to be a pretty core part of our revenue model going forward”.
As a result, the first deal is currently being offered at 8,000 Burger King Locations in the US. A USD1 discount is available to those who check in and spend a minimum of USD10.
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