Google Inc. has one more thing for consumers to slip into their Google Wallets: loyalty punch cards (e.g., "Buy 10 lattes get your next latte free!"). Punchd, a startup that makes a mobile version of those loyalty programs, announced on its website today it has been purchased by Google. No financial details were provided in the announcement 

The official announcement comes after Punchd tweeted a denial of the acquisition from its Twitter account just after the tech site TechCrunch broke news of the deal on Friday. TechCrunch reported the transaction was worth around $10 million.

Punchd began last year as a senior project at Cal Poly San Luis Obispo when Google donated some Android phones to the Computer Sciences department. The Punchd application allows a merchant's loyal customers to scan a barcode at the point of sale to keep track of their purchases and progress toward a free offer.

In response to the news, a spokesman for Google said via email, "We're happy to welcome the Punchd team to Google. They've built a cool and efficient way for customers to engage with local businesses, and we think they'll be a great fit for our mobile and local teams."