Monday, March 7, 2011

AmEx (AXP) Partners With Foursquare

American Express Co. (NYSE:AXP) has entered into a deal with Foursquare Labs Inc. to offer discounts to shoppers.

Foursquare Labs Inc. allows users win prizes and meet people by using their mobile phones to "check in" at their favorite bars, restaurants and stores.

The move reflects the credit card company's drive to win over younger consumers and gives Foursquare a heavyweight partner as Google Inc., AT&T Inc. and others jump into the mobile-commerce game.

"You go where your customers are and they are on places like Foursquare," says Edward Gilligan, vice chairman for AmEx.

Foursquare sees itself as a variant of Facebook or Twitter, but with location thrown in. Its priority is to amass a large base of active users.

The service is built around smartphones, which use GPS and other technologies to keep track of their position. Users who check in frequently can win discounts or recognition. The deal with AmEx opens up another set of incentives for using the service.




Source

No comments: