MasterCard gets into customer loyalty business

MasterCard has acquired Sydney-based loyalty services firm, Pinpoint.

Pinpoint offers loyalty and rewards services to financial institutions in the Asia Pacific region. The sum of the acquisition was not disclosed. The acquisition is expected to close in the second quarter of 2014.

Pinpoint has a presence in markets such as China, Hong Kong, India, Taiwan and Japan and services clients such as financial institutions and merchants.

Vicky Bindra, president, Asia Pacific, Middle East and Africa, MasterCard said: “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.”