MasterCard Inc., based in Purchase, announced Wednesday it has agreed to buy Pinpoint Pty. Ltd. Terms of the deal weren”™t disclosed.
Pinpoint, founded in 1984 and based in Australia, provides loyalty and rewards services for merchants and financial institutions. The company is establishing a strong presence in the Asia-Pacific region, including China, Hong Kong and Japan.
Vicky Bindra, president of MasterCard”™s Asia-Pacific, Middle East and Africa operations, said the acquisition would help the credit card giant mold “innovative and personalized rewards solutions.
“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,” she said.
The deal is scheduled to take place some time during the second fiscal quarter.
