MasterCard to buy Oz loyalty specialist Pinpoint
17 April 2014 | 6307 views | 0
MasterCard has struck a deal to buy PinPoint, a provider of loyalty and rewards service to banks and merchants in Asia Pacific. Financial terms were not disclosed.
Founded in 1984, Sydney-headquartered Pinpoint claims a growing presence in important markets such as China, Hong Kong, India, Taiwan and Japan and counts blue chips such as McDonald's, Vodafone and WestPac among its customers.
MasterCard says the acquisition - expected to close in the second quarter - will help issuers create more effective rewards programmes, merchants win new custom and consumers get better deals.
Vicky Bindra, president, Asia Pacific, Middle East and Africa, MasterCard says: "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."
This is not MasterCard's first loyalty acquisition. In 2012 it bought Truaxis, a US firm that provides credit and debit card-linked offers to consumers through merchants and banks.