Seems like a really useful idea and great execution too. I've never used the real punch cards in action before, may be I'm not aware of it. But this is something that I would definitely love to use!
It's just as easy to forget about punch cards on your phone as it is to forget about them in your wallet.
This looks like a great product. I can't wait for you to expand your venues.
Maybe notify a user only for 'popular' punch'd locations?