Google To Acquire Punchd
It seems that Google is about to acquire Punchd to improve their Wallet product. The deal, said to be worth over $10 million, would provide Google with a mobile loyalty card system built on the Android and iOS platforms, which would be perfect for Google Wallet.
Google Wallet could definitely use Punchd to improve its current loyalty provisions. Their system relies heavily on NFC wireless, and Punchd’s system relies on QR codes.
At the very least, Google Wallet could get an updated UI with better loyalty options as compared to the previously available.
None of the involved sides have confirmed it so far. The buyout price would let Google keep the terms a secret, but Punchd at some point would have to make the news public.
Punchd is a digital customer loyalty program for mobile devices which replaces those buy-10-get-1-free cards at coffee shops, frozen yogurt, bagel stores, supermarkets and other places. All you gotta do is to point your phone towards the punchcode at the register after your purchase and your punch gets recorded.
The mobile loyalty card service is made for Android and iPhones, and it makes sense combining with the recently announced Google Wallet.
More information about the acquisition is coming soon as we are still waiting for an official news from Google or Punchd .. Stay tuned for more details.