MasterCard Inc. has completed its acquisition of Pinpoint Pty. Ltd., an Australia-based loyalty and rewards service provider.
MasterCard entered its agreement in April to buy Pinpoint and combine the company's rewards programs for financial institutions with MasterCard's own programs for issuers, merchants and cardholders. The companies did not disclose financial terms of the acquisition.
Completion of the deal will strengthen MasterCard's loyalty and rewards programs to benefit cardholders in the Asia Pacific region, the Purchase, N.Y.-based card network says in a July 1 press release.
"This is a significant step for Pinpoint in further developing the business in the region,"
Kim Harding, founder of Pinpoint, says in the release. "Pinpoint's deep experience in loyalty and rewards, coupled with MasterCard's vast network and capabilities, will position the company strongly to grow customer relationships with exciting and innovative programs."