“I think Punchard is spot-on with the direction of the marketplace with regard to where loyalty programs are headed,” said Gordon Borrell, CEO of Borrell Associates, Inc.
Pasadena, CA (PRWEB) February 22, 2012
Punchcard, an Idealab company, today launches a new mobile app that gives consumers a simple way to get rewards from the businesses they frequent most. Debuting in Southern California, Punchcard gives iPhone and Android users access to rewards for more than 147,000 local businesses from Santa Barbara to San Clemente to Palm Springs.
The process for achieving rewards is simple: Download the Punchcard app, called “Punchcard – Official” in the App Store and Android Market, and after visiting a business, simply take a photo of the receipt at the point of purchase after which Punchcard will verify your purchase so you can earn “punches” at the places you love to shop. After completing a punchcard at any business, the Punchcard user is entitled to a reward – in most cases, it’s cash back, but it can also be a free meal, free clothing, free haircut, or a gift card. The Punchcard app replaces the stacks of individual loyalty cards people have been expected to carry in their wallet and have available at the time of purchase.
“We’re thrilled to make the Punchcard app available to benefit both consumers and merchants,” said Punchcard CEO Andy Steuer. “Consumers get rewarded with cash back for shopping at the places they love. For local merchants, 15% of their customer base typically generates 60% or more of their profits. Loyal customers are the lifeblood to a local business, and Punchcard provides a way for those businesses to increase the revenue generated from these customers while shortening the consumer re-purchase cycle. The result is more revenue in a shorter period of time at lower costs. It’s a win-win for both the consumer and merchant.”
The “Punchcard Official” app is available now in the Apple App Store for iOS users and in the Android Market for Android users. Punchcard also plans to expand beyond Southern California into additional geographic areas in the coming months.
“I think Punchard is spot-on with the direction of the marketplace with regard to where loyalty programs are headed,” said Gordon Borrell, CEO of Borrell Associates, Inc., a leading research and consulting firm that tracks local advertising. "Punchcard incorporates the basic elements of social marketing with frequent customer rewards to broaden the opportunities for local businesses, and to grow revenues from their most important customer base. Andy Steuer is one of the brighter and most enthusiastic entrepreneurs when it comes to harnessing the power of digital media to the benefit of local merchants, and I’m expecting great things from this new company.”
Punchcard was founded by Andy Steuer, who has 20 years of leadership and entrepreneurial experience and has broad experience across a variety of small and large technology and entertainment companies. Prior to founding Punchcard, Andy was Founder and CEO of MerchEngines, an online marketing company that he founded in 2005 and grew through a successful acquisition by Deluxe Corporation, a Fortune 500 company, in 2009. Andy has also been on the founding team or worked at companies including, MusicNet, acquired by Real Networks; CNET, acquired by CBS, Infoseek, acquired by Disney, Xoom.com, acquired by NBC and ZeroDegrees, acquired by IAC, in addition to serving as a Managing Partner in an angel investment fund called Andojo.
Punchcard is a mobile engagement and loyalty network designed to give merchants an effective way to retain customers while rewarding shoppers for making frequent purchases at their favorite retailers. The Punchcard app is a mobile platform that uses an electronic "punchcard" system that is easy-to-implement and simple to use for shoppers and merchants alike. Merchants get real-time data about their customers’ buying habits, as well as social and other demographic information that allows them to provide their loyal customers with targeted offers and rewards. Punchcard is run by Gigway, Inc., an Idealab company, headquartered in Pasadena and was founded by Andy Steuer in 2011. For more information, please visit http://www.punchcard.com, and connect with Punchcard on Twitter, Facebook and Google+.