Wallaby aims to simplify credit card rewards and social sharing

I currently have three different credit cards that all have different types of rewards. It’s impossible to remember which one is offering bonus points for gas purchases this month, or which one offers 3% cash back for travel. That’s where Wallaby comes in; it’s a single, smart credit card that you swipe just like a regular credit card. It knows which of your cards is the best for your particular purchase and automatically forwards the charge on to the appropriate card based on your preferences.

So, why am I writing about it on a foursquare blog? Wallaby includes social features, one of which is checking you in on foursquare. Even though it’s typically happening as you leave a store, it’s still a super-easy way to record your location on foursquare. Other social features include Facebook check-ins, liking the company on Facebook or tweeting about completed transactions.

“Wallaby is the first service that brings together a new combination of a flexible, cloud-based wallet and an intelligent, connected physical credit card that can be used at any location,” said Matthew Goldman, founder and CEO of Wallaby, in a press release. “We know from primary research that 90% of consumers carry rewards cards and 70% of them agree that credit card rewards programs are confusing. We are making it easy for people to earn the most rewards by channeling spending toward the best card for each transaction, making sure each consumer gets the most from their credit card annual fees.  What makes this really great is that we do this behind the scenes, with zero effort or change in normal behavior required by the user.”

This sounds like a very interesting concept, combining cloud-based knowledge and social features into a single, swipable card. Making it easier to keep track of all the credit card rewards I’m eligible for is a clear winner in my book.

The first 5,000 sign-ups get a free one year membership to Wallaby.