[tmugavero]

The real value of checkins is location based marketing initiatives. This service is an example providing real long term value based on where you are: http://www.shopkick.com/

[Tichy]

That's value to the businesses, not the users, though?

I don't think businesses are craving for a way to give you stuff cheaper. They just want to tie you to their business. Is that really an advantage for the shopper?