MasterCard concludes acquisition of Pinpoint
01 July 2014 | 2247 views | 0
MasterCard (NYSE: MA) today announced that it has completed the acquisition of Pinpoint Pty. Ltd. ("Pinpoint"), Australia's leading provider of loyalty and rewards services to financial institutions across the Asia Pacific region.
Pinpoint was founded in Sydney in 1984, and has been developing innovative customer loyalty and incentive programs for over 30 years. A leading loyalty service provider in Asia Pacific, Pinpoint offers a full suite of loyalty services from point schemes and benefit programs through to redemption services.
This acquisition will significantly strengthen MasterCard's loyalty and rewards offerings and underscores MasterCard's commitment to delivering unparalleled services to consumers, merchants and issuers in this vital and fast growing region and beyond.
Chris Fendley, Group Head, Loyalty Solutions, Asia/Pacific, MasterCard said, "At MasterCard, we are committed to providing cardholders and customers with topnotch innovative rewards solutions tailored to their interests and needs. With the completion of the acquisition, we will continue to focus on creating synergies to better serve our customers and cardholders. And with Pinpoint's growing presence across Asia Pacific, we are excited for what the future holds for our issuers, merchants and cardholders."
Kim Harding, Founder of Pinpoint said, "This is a significant step for Pinpoint in further developing the business in the region. Pinpoint's deep experience in loyalty and rewards, coupled with MasterCard's vast network and capabilities, will position the company strongly to grow customer relationships with exciting and innovative programs."
Financial terms of the deal were not disclosed.