Tuesday, February 19, 2013

Punchcard Shifts To Prizes, Promotions

Punchcard, the mobile, consumer loyalty application developer backed by Idealab, has swizzled its model significantly today, with the release of a new version of its mobile app for iPhone and Android. According to Punchcard, it is now letting users of the consumer loyalty app enter to instantly win prizes every time they take a picture of a receipt using the app--instead of earning rewards for filling out a virtual punchcard.

The startup said the shift now lets users earn rewards every time they use the app, changing the mechanics of the app, which had been focused on accumulating points to receive erwards. In addition, Punchcard said the instant win prizes now include everything from free music downloads, to gift cards, to iPads, as well as other gifts. The app originally let users accumulate rewards for cash back, free merchandise, and in-kind store credit.

Punchcard said it will be giving away 3,500 prizes every week to users of the app, with different tiers of prizes depending on usage of the app. The firm's app is geared towards helping local, brick-and-mortar retailers gain repeat customers. The company is led by Andy Steuer.

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