SXSW is famous for being a launch pad for new apps and new tech features. Among those being tested out this year is Foursquare’s American Express partnership. Now, when you check in at selected locations and purchase at least $5 worth of goods, you can get a $5 credit on your statement.
Wall Street Journal talked to AMEX vice chairman Edward Gilligan about the deal. Foursquare users opt into the discounts by registering their AMEX cards with the site (sorry no corporate cards allowed). He insists that it’s not about getting the younger customer; rather it’s more about engaging the ones they have. “You go where your customers are and they are on places like Foursquare,” he said.
Using GPS and other Foursquare technologies, when users check in at a location they unlock a special that gives them $5 back on their statement. Click on the “load to card” feature before your purchase, and pay for your item with your AmEx. You’ll get a push notification once AMEX has confirmed you did indeed buy that overpriced burrito. If you’re still confused, Business Insider has a nice slideshow of how it works.
The big test will be how a product like this will do at SXSW. Festivals are notorious places where it can be hard to get a call or text through, let alone a check-in, mobile purchase and a confirmation from the company to get a deal. If it does work, it could be something that AMEX could continue to do in the future.
Would a promotion like this make it more likely for you to use one card over another?
More on TIME.com:
What’s Going to be Huge at SXSW? Group Messaging
Foursquare 3.0: Recommended Locations, New Merchant Features
Foursquare Proves It: New Yorkers Not the Rudest People in the World