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American Express, Foursquare go abroad

June 1, 2012

Major players in the mobile payment processing sector are taking the competition global, as American Express recently announced it would bring one service across the pond.

Major players in the mobile payment processing sector are taking the competition global, as American Express recently announced it would bring one service across the pond.

The credit card company is launching a location-based discount and special offers service in the U.K. through check-in network Foursquare, The Wall Street Journal reports. The special offers will be available through retailers on U.K. “high streets,” such as the nation’s main shopping districts.

However, the American Express program will differ from others as it requires no barcodes or scanning. Instead, when cardholders purchase products the savings will immediately be credited to their accounts, which are linked to the Foursquare network.

“It solves the redemption problem,” Evan Cohen, chief operating officer of Foursquare, told the paper. “A lot of mobile coupons have to be unlocked and someone has to show a salesperson or a waiter. They may well have no idea about what the user is showing them. The redemption is frictionless.”

However, American Express isn’t the only mobile payment provider moving into the U.K. The 2012 London Olympics is attracting card companies’ attention due to the sheer amount of tourists who will be visiting the country, which now has more than 140,000 contactless terminals, Credit Donkey reports.

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