Google has reportedly paid up to $10 million dollars for San Francisco based mobile loyalty card startup Punchd which will improve Google Wallet
It’s rumored that Google plans on acquiring the San Francisco based loyalty card service called Punchd Labs Inc., or Punchd. The move by the search engine giant is most likely an attempt to bolster their NFC payment system Google Wallet.
The financial details aren’t official as neither parties have confirmed the deal, but according to TechCrunch two of their unnamed sources say that the acquisition price is between a low seven figures and $10 million.
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 do is point your phone towards the punchcode at the register after your purchase and your punch gets recorded.
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