Mastercard Opens Largest Asia Pacific Innovation Centre in Singapore

Mastercard opened its largest Innovation Centre of Excellence in Asia Pacific in Singapore on Friday (Nov 13), housing a dedicated artificial intelligence (AI) unit focused on agentic commerce and scam prevention, the payments company announced.

The facility of more than 7,200 sq ft brings together expertise in AI, cybersecurity, customer experience and rapid prototyping, with more than 55 specialists already working there, Mastercard said.

Four spaces under one roof

The centre combines four spaces: an AI Centre of Excellence developing applications in agentic commerce, fraud and scam prevention; a Fusion Centre bringing together cyber, fraud and physical security expertise; a Mastercard Experience Centre for financial institutions, merchants and public sector partners; and a Makerspace for prototyping and testing ideas.

It will connect Mastercard’s expertise across more than 40 Asia Pacific markets, the company said.

Jobs and government backing

Mastercard plans to add more than 250 specialist roles in Singapore by the end of 2029, covering responsible AI, digital commerce, cybersecurity, data and payments. The company has more than 850 employees in Singapore, home to its Asia Pacific headquarters, and expects the workforce to exceed 1,000 by the end of 2029.

Singapore’s Minister for Energy, Trade and Industry (Energy and Industry) Dr Tan See Leng said at the launch that he hoped the centre would become “a lighthouse for payments innovation in Asia Pacific”, with solutions proven in Singapore before being deployed across ASEAN and India.

Economic Development Board chairman Png Cheong Boon said the centre would deepen Mastercard’s capabilities in AI, cybersecurity and threat intelligence and create high-value jobs for Singaporeans, according to the statement.

Mastercard said it projects that more than one in 10 online shoppers will routinely use AI agents to make purchases by 2030, while citing McKinsey estimates that US$3 trillion to US$5 trillion in global consumer commerce could be influenced or orchestrated by agentic AI.

What’s next

Mastercard first announced plans for the AI centre in April, when it rolled out authenticated agentic transactions across several ASEAN markets with UOB, The Asian Banker reported at the time. The company said the strongest ideas developed at the new centre could be scaled globally.

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