SINGAPORE, Nov 13 – Mastercard has opened its largest Innovation Centre of Excellence (ICoE) in Asia Pacific, establishing Singapore as a key hub for the development of artificial intelligence, cybersecurity and digital payment solutions.
The new facility covers more than 7,200 square feet. It will bring together banks, merchants, government agencies and technology partners to develop and test solutions for over 40 markets across Asia Pacific and beyond.
More than 55 specialists are already working at the centre. Mastercard also plans to create over 250 additional specialist positions in Singapore by the end of 2029.
The investment aims to help businesses respond to emerging technology challenges and build safer, smarter digital experiences.
Four Key Areas Drive Innovation
The new centre combines four specialised facilities under one roof. Each supports a different part of Mastercard’s technology and innovation strategy.
1. AI Centre of Excellence
The AI Centre of Excellence will focus on responsible artificial intelligence solutions.
Its work will include agentic commerce, fraud prevention and scam detection. Agentic commerce refers to transactions supported or carried out by AI agents on behalf of users.
The centre aims to make digital commerce more secure, efficient and convenient.
2. Fusion Centre
The Fusion Centre will bring together specialists in cybersecurity, fraud prevention and physical security.
Teams will monitor emerging threats, coordinate responses and help businesses strengthen their security systems.
This integrated approach aims to improve protection across the wider digital and commercial ecosystem.
3. Mastercard Experience Centre
The Mastercard Experience Centre will give banks, merchants and public-sector organisations a practical way to explore new technologies.
Visitors can experience emerging solutions and identify how these technologies could support their business operations.
4. Makerspace
The Makerspace will provide an environment for developing and testing new ideas.
Teams can build prototypes, test concepts and improve solutions before introducing them into real-world applications.
This approach aims to shorten the time between an initial idea and a working product.
Mastercard Plans More Than 250 Specialist Jobs
Mastercard’s investment will also expand Singapore’s technology workforce.
The company currently employs more than 850 people in Singapore. It expects this number to exceed 1,000 by the end of 2029.
The planned recruitment of over 250 specialist roles will strengthen capabilities in responsible AI, cybersecurity, digital commerce, data and payments.
Singapore’s Minister for Energy, Trade and Industry, Dr Tan See Leng, said the centre could help turn emerging technologies into practical solutions that businesses and consumers can trust.
He also expressed hope that Singapore would become a regional testing ground for payment innovations before their wider adoption across ASEAN, India and other markets.
Meanwhile, Png Cheong Boon, Chairman of the Singapore Economic Development Board, said the investment would strengthen Singapore’s position as a technology and innovation hub.
AI Expected to Reshape Global Commerce
The centre opens as businesses increasingly explore how AI can transform online shopping and digital payments.
Mastercard cited projections that more than one in 10 online shoppers could routinely use AI agents to make purchases on their behalf by 2030.
Global consumer commerce worth between US$3 trillion and US$5 trillion could also be influenced or managed by agentic AI.
However, wider AI adoption will require strong security, clear governance and human oversight.
These safeguards are especially important as businesses face growing cybercrime and digital fraud risks.
Singapore to Support More Than 40 Regional Markets
From Singapore, Mastercard plans to connect its expertise and technology capabilities across more than 40 Asia Pacific markets.
The centre will help partners develop solutions for different regional needs. Successful innovations could later expand into international markets.
Mastercard said the facility builds on its long-term partnership with Singapore and its commitment to supporting the region’s digital economy.
The company aims to bring technology, security and business expertise closer together. Ultimately, the centre will help businesses turn innovation into practical solutions for a more connected and intelligent global economy.
Source : PR Newswire | Rewritten By Minutesmy
