MasterCard has announced an agreement to acquire Sydney-based loyality and rewards program manager, PinPoint.

Founded in 1984, PinPoint in Australia’s leading rewards program manager, with a growing footprint across the region into key markets such as China, Hong Kong, India, Taiwan, and Japan.

Pinpoint manages more than 35 million customers, including financial institutions and merchants, in its reward and loyalty programs.

MasterCard said it aims to help Pinpoint’s merchants target new customers, while retaining their existing client base.

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

This acquisition is expected to close in the second quarter of 2014. Financial terms of the deal were not disclosed.