Applied to yc with this idea couple years ago, cool to see it in production. Sharing a loyalty card with a group of friends (i.e. when anyone makes a purchase everyone gets a stamp) was one of the social features we were excited about, I'm interested to see what they come up with.
They went through the classic "Oh, we got bought by Google so we're closing doors for an ambiguous amount of time before maybe reappearing again later" phase that it seems most Google acquisitions go through.
In that time, the Five Stars guys have really gotten traction. I don't know if that paves the way for Punchd or not, but I thought it was a great idea before Google bought it, and apparently, so did Google.