Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


MasterCard to Acquire Pinpoint

MasterCard to Acquire Pinpoint

New Zealand, 17 April 2014 – MasterCard (NYSE: MA) today announced that it has entered into an agreement to acquire Pinpoint Pty. Ltd. (“Pinpoint”), a leading provider of loyalty and rewards services to financial institutions across the Asia Pacific region. This acquisition is expected to close in the second quarter of 2014.

Pinpoint, which was founded in 1984 and headquartered in Sydney, is Australia’s leading rewards programmemanager, with a growing footprint across the region into key markets such as China, Hong Kong, India, Taiwan and Japan. Its customer base includes financial institutions and merchants.

This acquisition, in combination with MasterCard’s capabilities, will benefit issuers, providing them more effective and efficient rewards programmes to offer their customers. It will also help merchants target new customers while retaining their existing client base, allowing them to grow their businesses and raise profitability. Consumers will enjoy the wider choice of relevant, quality and timely offers; their shopping experiences will be enhanced by the integration of payments and rewards.

Commenting on the acquisition, Vicky Bindra, president, Asia/Pacific, Middle East and Africa, MasterCardsaid, “Bringing innovative and personalised rewards solutions to cardholders and customers is a priority for MasterCard. This is why it’s exciting when we come across companies such as Pinpoint that excel in this area. 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 programmes to our customers and cardholders.”

Kim Harding, Founder of Pinpoint said, “Becoming a part of the MasterCard family is an exciting step for our entire team as we look to build on our core business and grow our customer relationships across the region. Our 30 years of expertise in loyalty and rewards services, combined with MasterCard’s existing programmes and vast network will position us strongly to deliver a whole new level of innovative services to our customers.”

Financial terms of the deal were not disclosed.

– ENDS –

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business: PayPal Stops Processing Mega Payments; NZX Listing Still On

PayPal has ceased processing payments for Mega, the file storage and encryption firm looking to join the New Zealand stock market via a reverse listing of TRS Investments, amid claims it is not a legitimate cloud storage service. More>>

ALSO:

Housing Policy: Auckland Densification As Popular As Ebola, English Says

Finance Minister Bill English said calls by the Reserve Bank Governor for more densification in Auckland’s housing were “about as popular in parts of Auckland as Ebola” would be. More>>

ALSO:

Crown Accounts: NZ Government Deficit Smaller Than Expected In First Half

The New Zealand government's operating deficit was smaller than expected in the first six months of the financial year, as the consumption and corporate tax take rose ahead of forecast in December, having lagged estimates in previous months. More>>

ALSO:

Fruit & Veg Crackdown: Auckland Fruit Fly Find Under Investigation

The Ministry for Primary Industries (MPI) is investigating a find of a single male Queensland fruit fly in a surveillance trap in the Auckland suburb of Grey Lynn... MPI has placed legal controls on the movement of fruit and some vegetables outside of a defined circular area which extends 1.5km from where the fly was trapped in Grey Lynn. More>>

ALSO:

Scoop Business: Westpac NZ Reaches $2.97M Swaps Settlement

Westpac Banking Corp’s New Zealand unit has agreed to pay $2.97 million in a settlement with the Commerce Commission over the way the bank sold interest rate swaps to farmers between 2005 and 2012. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news