Facebook is expected to launch a geolocation addition to its site, following in the footsteps of twitter incorporating foursquare to their site. The rumour has been around for a while but is expected to be announced today. This comes in addition to their recent add-ins like the question service, the panic button in the UK, and free calling with Facebook mobile.
Currently, foursquare users are able to avail discounts at places they 'check in' to on a regular basis, at least in the United States; in a way, it's a brand loyalty badge. If Facebook is to add this function, being that it is a more popular social networking site, the number of retail company tie-ups that could happen is pretty impressive.