MasterCard has announced that it has entered into an agreement to acquire Pinpoint, a provider of loyalty and rewards services to financial institutions across the Asia Pacific region. This acquisition is expected to be finalised and closed in the second quarter of 2014.
The acquisition will benefit issuers, providing them more effective and efficient rewards programs to offer their customers. Also it will help merchants target new customers while retaining their existing client base, enabling them to grow their businesses and raise profitability.
Vicky Bindra, president, Asia/Pacific, Middle East and Africa, MasterCard said: “Bringing innovative and personalized rewards solutions to cardholders and customers is a priority for MasterCard. 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.”
Kim Harding, Founder of Pinpoint said: “Becoming a part of the MasterCard family is an exciting step for our entire team as we look to build on our core business and grow our customer relationships across the region. Our 30 years of expertise in loyalty and rewards services, combined with MasterCard’s existing programs and vast network will position us strongly to deliver a whole new level of innovative services to our customers.”
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