MasterCard agrees to buy Australia-based Pinpoint

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.