Singapore: Mastercard has opened its largest Asia Pacific Innovation Centre of Excellence in Singapore, establishing a regional hub focused on developing and testing technologies in artificial intelligence (AI), cybersecurity, fraud prevention and digital payments.
The Mastercard ICoE will bring together financial institutions, merchants, governments and technology partners to accelerate the adoption of emerging technologies and build more secure digital commerce solutions.
Spread across more than 7,200 sq ft, the Mastercard ICoE is designed to bridge the gap between technology experimentation and real-world implementation.
It will allow businesses and public-sector organisations to work directly with Mastercard specialists to develop, test and refine solutions addressing emerging challenges in the digital economy.
More than 55 specialists are already working at the centre, bringing expertise in AI, cybersecurity, customer experience and rapid prototyping.
The facility is expected to play a role in helping businesses respond to evolving cyber threats, prevent fraud and scams, and deliver more secure and intuitive digital experiences.
The company plans to create more than 250 specialist roles in the country by the end of 2029, strengthening its capabilities in responsible AI, trusted digital commerce, cybersecurity, data and payments.
Why Mastercard’s Innovation Centre of Excellence matters
The establishment of the Mastercard ICoE comes at a time when AI is beginning to change how consumers discover, select and purchase products and services.
One emerging development is agentic commerce, where AI agents can independently perform tasks such as searching for products, comparing options and completing purchases on behalf of consumers.
According to projections cited by Mastercard, more than one in 10 online shoppers could routinely use AI agents to make purchases on their behalf by 2030.
Meanwhile, agentic AI could influence or orchestrate between US$3 trillion and US$5 trillion in global consumer commerce.
However, the growing use of AI in financial transactions and online shopping also raises questions around payment security, fraud detection, data protection and accountability.
The Mastercard ICoE is intended to address some of these challenges by bringing AI development, cybersecurity expertise and fraud intelligence under one roof.
Rather than limiting innovation to technology demonstrations, the centre will provide an environment where businesses can explore applications, test solutions and work towards deploying them in real-world settings.
The need for stronger digital security is also underscored by the scale of cybercrime in the region. Mastercard cited data indicating that cybercrime accounts for more than 30% of recorded crime, highlighting the importance of building security and governance into emerging digital commerce systems.
Singapore positions itself as a regional innovation hub
The Mastercard ICoE will serve as a collaboration point for organisations across more than 40 Asia Pacific markets.
Singapore will act as the base for developing solutions that address the region’s diverse requirements, with successful innovations potentially scaled to other markets globally.
The centre’s launch was attended by Dr Tan See Leng, Minister for Energy, Trade and Industry (Energy and Industry), Singapore; Png Cheong Boon, Chairman of the Singapore Economic Development Board (EDB); Merit Janow, Chair of Mastercard’s Board of Directors; Jon Huntsman, Vice Chairman and President, Strategic Growth, Mastercard; and Richard Wormald, President, Asia Pacific, Mastercard.
Four specialised facilities under Mastercard ICoE
The Mastercard ICoE combines four specialised spaces designed to support different stages of technology development, from identifying emerging risks to testing and demonstrating new solutions.
1. AI Centre of Excellence
The AI Centre of Excellence will focus on developing responsible AI applications to make commerce safer, smarter and more intuitive.
Its areas of focus include agentic commerce, fraud prevention and scam detection. The centre will explore how AI can be integrated into commerce and payment systems while addressing the security and trust requirements associated with these technologies.
2. Fusion Centre
The Fusion Centre will bring together specialists in cybersecurity, fraud intelligence and physical security.
Its objective is to help identify emerging threats, coordinate responses and strengthen resilience across the digital commerce ecosystem. By combining capabilities that traditionally operate separately, the centre aims to improve how organisations anticipate and respond to security risks.
3. Mastercard Experience Centre
The Mastercard Experience Centre will provide financial institutions, merchants and public-sector organisations with an interactive environment to explore emerging technologies.
Partners will be able to experience new solutions and understand how evolving technologies could create opportunities for their businesses and operations.
4. Makerspace
The Makerspace will provide a hands-on environment for developing, prototyping, testing and refining new ideas.
It is designed to shorten the development cycle between an initial concept and a working solution, enabling Mastercard and its partners to experiment with technologies and assess their practical applications.
Mastercard expands its Singapore workforce
Mastercard currently employs more than 850 people in Singapore. The company expects its local workforce to exceed 1,000 employees by the end of 2029.
In addition to expanding its overall workforce, Mastercard plans to add more than 250 specialist positions in Singapore during the same period. These roles will support the development of expertise in AI, cybersecurity, threat intelligence, digital payments and data.
Jon Huntsman, Vice Chairman and President, Strategic Growth, Mastercard, said, “Singapore continues to distinguish itself through its ambition, talent and ability to stay ahead of change. Mastercard has been proud to grow its presence here. This new investment reflects our confidence in Singapore’s future and Mastercard’s commitment to being a partner for the long term.”
Richard Wormald, President, Asia Pacific, Mastercard, said, “Asia Pacific 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.”
“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.”
