Ask HN: Punchd vs FB Places / Foursquare?

Facebook and to a certain extent Foursq. seem to be pretty direct about trying to replace the loyalty card themselves. Both of them have versions of their deals that lets businesses reward loyalty. (Facebook has a category called loyalty and FSq. has an option to reward multiple check-ins) It's a much more critical aspect for Foursquare because other than ads, this is the only revenue stream being discussed.

Businesses like Chipotle, AE etc. are already implementing deals on top of this as well. How can a business like Punchd (or one of its many competitors) hope to differentiate themselves enough in the eyes of a small business owner?