I've had a handful of classes at three schools that took attendance, and it did not work that way. Attendance was a calculated part of the grade and was recorded "just in case". I often lost points because I did not attend every lecture (as is my choice), despite having 80-100% on every assignment.
One thing teachers are doing nowadays is using "clickers", small remote controls that wirelessly record answers to in-class questions. They are not attendance per se, but as the correct answer is irrelevent to scoring, and getting the points requires being in class, it is a de facto attendance monitor. I have seen this in two schools.
Interestingly in the first class I had it in it was at least of some benefit, the teacher would put up a short question and then allow students who had answered in the two majority choices to defend their responses, and would therefore find what part of the concept the students were not understanding. But the one I have now is pretty much using it to waste time and make sure that we are present to have our time wasted. Leaving 10 minutes sometimes to answer simple problems and then moving right on to the next one with no explanation or useful discussion.