MasterCard is in the process of acquiring Pinpoint Pty. Ltd., an Australian provider of loyalty and rewards services to financial institutions across the Asia Pacific region. The transaction is expected to close in the second quarter of 2014.
Pinpoint was founded in 1984. Headquartered in Sydney, it has a growing footprint across the region into markets such as China, Hong Kong, India, Taiwan and Japan. Its customer base includes financial institutions and merchants.
MasterCard says this acquisition, in combination with its capabilities, will benefit issuers, providing them more effective and efficient rewards programs to offer their customers. It is also intended to help merchants target new customers while retaining their existing client base.
“Bringing innovative and personalized rewards solutions to cardholders and customers is a priority for MasterCard,” said Vicky Bindra, president, Asia/Pacific, Middle East and Africa. “This is why it’s exciting when we come across companies such as Pinpoint that excel in this area. Not only does Pinpoint offer a competitive edge in Australia, its growing presence across Asia Pacific also holds much promise and will allow us to offer more effective programs to our customers and cardholders.”