Mastercard to add over 250 specialist job roles in Singapore by end-2029

[SINGAPORE] Mastercard said on Thursday (Nov 12) that it intends to create more than 250 specialist roles in Singapore by end-2029, to advance responsible artificial intelligence use, digital commerce and cybersecurity across the region.

Richard Wormald, the payments provider’s Asia-Pacific president, said the region is “moving quickly into a more intelligent and interconnected economy”.

“The opportunity is to turn new technology into real-world value, securely and at scale,” he added.

Mastercard currently has more than 850 employees in Singapore, its Asia-Pacific headquarters.

The company also opened a 7,200 square foot Innovation Centre of Excellence on Thursday, which will bring together banks, merchants, technology companies and governments to develop and test new solutions.

Such solutions will address emerging challenges in AI, cybersecurity, customer experience and rapid prototyping.

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The new facility is Mastercard’s first Innovation Centre of Excellence in the Asia-Pacific.

“By combining expertise in AI, cybersecurity and fraud intelligence, it will help emerging technologies develop solutions that both businesses and consumers can trust,” said Minister for Energy, Trade and Industry (Energy and Industry) Tan See Leng at the launch.

“South-east Asia is a very dynamic, very diverse market, and there’s tremendous opportunities for digital commerce. Unlocking its full potential requires solutions that work across different markets, payment systems and regulatory environments.”

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Dr Tan added that Singapore is “well placed” to be a “launchpad for innovation across Asia and beyond”.

Png Cheong Boon, chairman of the Singapore Economic Development Board, said: “By deepening its capabilities in AI, cybersecurity and threat intelligence, Mastercard will tackle emerging challenges and seize new opportunities across the Asia-Pacific.”

The Innovation Centre of Excellence has four key spaces:

• The AI Centre of Excellence, which advances responsible AI solutions for digital commerce, including applications in agentic commerce, fraud and scam prevention;
• The Fusion Centre, which brings together expertise across cyber, fraud and physical security to identify emerging risks, coordinate response efforts and strengthen resilience across the ecosystem;
• The Mastercard Experience Centre, which allows financial institutions, merchants and public sector partners to explore emerging technologies for their businesses in an immersive way; and
• The Makerspace, which is meant for prototyping and testing ideas.