Completion of acquisition marks the strengthening of loyalty and rewards offerings to benefit cardholders across the Asia/Pacific region
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Singapore – 1 July 2014 – MasterCard (NYSE: MA) today announced that it has completed the acquisition of Pinpoint Pty. Ltd. (“Pinpoint”), Australia’s leading provider of loyalty and rewards services to financial institutions across the Asia Pacific region.
Pinpoint was founded in Sydney in 1984, and has been developing innovative customer loyalty and incentive programs for over 30 years. A leading loyalty service provider in Asia Pacific, Pinpoint offers a full suite of loyalty services from point schemes and benefit programs through to redemption services.
This acquisition will significantly strengthen MasterCard’s loyalty and rewards offerings and underscores MasterCard’s commitment to delivering unparalleled services to consumers, merchants and issuers in this vital and fast growing region and beyond.
Chris Fendley, Group Head, Loyalty Solutions, Asia/Pacific, MasterCard said, “At MasterCard, we are committed to providing cardholders and customers with topnotch innovative rewards solutions tailored to their interests and needs. With the completion of the acquisition, we will continue to focus on creating synergies to better serve our customers and cardholders. And with Pinpoint’s growing presence across Asia Pacific, we are excited for what the future holds for our issuers, merchants and cardholders.”
Kim Harding, Founder of Pinpoint said, “This is a significant step for Pinpoint in further developing the business in the region. 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.”
Financial terms of the deal were not disclosed.
MasterCard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardAP, join the discussion on the Cashless Pioneers Blog and subscribe for the latest news on the Engagement Bureau.
Venture Liang, Vice President, Communications, Asia/Pacific
Tel: +65 6390 5973
Alana Morton, Associate Vice President, Communications, Australasia
Tel: +61 415 534 699
Forward Looking Statements:
Statements in this press release which are not historical facts, including statements about MasterCard’s plans, strategies, beliefs and expectations, are forward-looking and subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements speak only as of the date they are made. Accordingly, except for the company’s ongoing obligations under the U.S. federal securities laws, the company does not intend to update or otherwise revise the forward-looking information to reflect actual results of operations, changes in financial condition, changes in estimates, expectations or assumptions, changes in general economic or industry conditions or other circumstances arising and/or existing since the preparation of this press release or to reflect the occurrence of any unanticipated events. Such forward-looking statements include, without limitation, statements related to:
- MasterCard’s strategy and the impact of the acquisition on its offerings.
Actual results may differ materially from such forward-looking statements for a number of reasons, including those set forth in the company’s filings with the Securities and Exchange Commission (SEC), including the company’s Annual Report on Form 10-K for the year ended December 31, 2013, and the company’s Quarterly Reports on Form 10-Q and Current Reports on Form 8-K that have been filed with the SEC during 2014, as well as reasons including difficulties, delays or the inability of the company to achieve its strategic initiatives set forth above. Factors other than those listed above could also cause the company’s results to differ materially from expected results.
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