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The new facility will bring together expertise in AI, cybersecurity, and digital commerce, supporting Mastercard's plans to grow its Singapore workforce to more than 1,000 employees by 2029.
Mastercard has opened its largest Innovation Centre of Excellence (ICoE) in Asia Pacific in Singapore.
As shared by the Singapore Economic Development Board (EDB), the centre will serve as a regional hub where financial institutions, merchants, governments, and technology partners can work alongside Mastercard specialists to develop solutions for the evolving intelligence economy.
Spanning more than 7,200 sq ft, the facility brings together expertise in artificial intelligence (AI), cybersecurity, customer experience and rapid prototyping. More than 55 specialists are already working at the centre to help partners address emerging challenges, strengthen resilience, and improve digital experiences.
As part of its expansion in Singapore, Mastercard plans to add more than 250 specialist roles by the end of 2029. These roles will support the development of capabilities in responsible AI, trusted digital commerce, cybersecurity, data, and payments across the region.
Commenting on the opening, Png Cheong Boon, Chairman, EDB, said the centre marks a new chapter in Singapore's longstanding partnership with Mastercard.
He noted that the company's expanded capabilities in AI, cybersecurity, and threat intelligence would help it address emerging challenges and opportunities across APAC.
"Singapore will continue to be a key hub where companies like Mastercard can innovate and pioneer the next generation of technologies for global markets, and create high-value jobs for Singaporeans,” he added.
Four specialised spaces under one roof
Designed to adapt to changing technologies, risks and business models, the ICoE brings together four complementary spaces within one facility.
These are:
- AI Centre of Excellence: Focuses on advancing responsible AI solutions to make commerce safer, smarter and more intuitive, including applications in agentic commerce, fraud and scam prevention.
- Fusion Centre: Combines expertise in cybersecurity, fraud and physical security to identify emerging risks, coordinate responses and strengthen resilience across the ecosystem.
- Mastercard Experience Centre: Provides financial institutions, merchants and public sector partners with an immersive environment to explore emerging technologies and their potential business applications.
- Makerspace: Offers a hands-on environment for partners to prototype, test and refine ideas, shortening the process from concept to implementation.
Jon Huntsman, Vice Chairman and President, Strategic Growth, Mastercard, said the investment reflects the company's confidence in Singapore's future and its commitment to maintaining a long-term presence in the country.
He added that Singapore's talent and ability to stay ahead of change had supported Mastercard's growth in the market.
At the same time, Richard Wormald, President, Asia Pacific, Mastercard, highlighted the region's journey towards a more intelligent and interconnected economy, with businesses looking to turn emerging technologies into practical applications securely and at scale.
He said: "The ICoE builds on Mastercard’s longstanding collaboration with EDB and Singapore’s strength as a proven testbed for innovation. It unites capabilities that traditionally sat apart, supporting the region in tackling shared challenges and moving promising ideas into practice faster."
Singapore centre to support innovation across more than 40 markets
The opening comes as businesses across Asia Pacific look to move beyond experimenting with emerging technologies towards wider adoption. By 2030, more than one in 10 online shoppers are projected to routinely use AI agents to make purchases on their behalf, according to a Mastercard report.
Meanwhile, between US$3tn and US$5tn in global consumer commerce could be influenced or orchestrated by agentic AI, according to McKinsey & Company.
However, businesses will need to ensure that new technologies are deployed responsibly, with security, governance and human oversight built in from the outset.
This is particularly important in a region where cybercrime already accounts for more than 30% of recorded crime, according to an INTERPOL report.
From Singapore, the ICoE will connect Mastercard's expertise and insights across more than 40 Asia Pacific markets. It will develop solutions to address the region's diverse needs, with the potential for successful initiatives to be scaled globally.
Mastercard currently employs more than 850 people in Singapore, which houses its Asia Pacific headquarters and a key market support centre for the region.
With its Singapore workforce expected to exceed 1,000 by the end of 2029, the company's latest expansion will seek to deepen its specialist capabilities in areas such as AI, cybersecurity, data and payments.
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Lead image / EDB's Facebook
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