Mastercard to hire 250 more staff in Singapore by end 2029
SINGAPORE – Mastercard plans to hire 250 more people for its Asia-Pacific headquarters in Singapore by the end of 2029, the global payments company said on Nov 12.
With more than 850 employees now, the additional hires are expected to bring its workforce to over 1,000 in the Singapore office, which the American multinational corporation considers a “key market support centre for the region”.
“This growth will deepen the expertise needed to shape a more intelligent, connected and secure future for commerce,” the company said.
It added that the increased headcount will be for roles to “advance responsible AI, trusted digital commerce, cybersecurity, data and payments across the region”.
The company announced its hiring plans at the launch of its first Innovation Centre of Excellence in Asia-Pacific. The new 7,200 sq ft centre is located within Mastercard’s office in DUO Tower on Fraser Street.
A shopping solution, demonstrated at Mastercard’s Innovation Centre of Excellence in Singapore, allows a customer to virtually try on clothes, with the help of AI, before buying them.
ST PHOTO: ARIFFIN JAMAR
The facility is currently staffed by more than 55 employees with expertise in artificial intelligence, cybersecurity, customer experience and rapid prototyping.
Speaking at the centre’s opening, Minister for Energy, Trade and Industry (Energy and Industry) Tan See Leng noted that Mastercard has already recruited more than 100 early career professionals through its graduate development programme in Singapore.
He said that the innovation centre will further deepen Singapore’s talent pipeline, adding that he hopes Mastercard “will continue to hire and train even more local talent, including fresh graduates and early career professionals”.
“Hiring young talent should not be viewed simply as an immediate cost to the business, but an investment in the company’s future capabilities, leadership pipeline, and long-term competitiveness,” said the minister.
Richard Wormald, Mastercard’s president for Asia-Pacific, said that the company hopes to continue working with local businesses and universities “to create the next generation of talent right here in Singapore”.
The innovation centre brings together four Mastercard centres under one roof: an AI Centre of Excellence, a Fusion Centre, a Mastercard Experience Centre, and a Makerspace.
Through the new Singapore facility, Mastercard will work with banks, merchants, governments and technology firms to speed up the testing and development of commerce solutions to business challenges that customers face.
Solutions for more than 40 markets in the Asia-Pacific region will be developed and the strongest ideas could be adopted globally.
Tan said the centre would provide a dedicated platform to take innovations, such as using AI agents to book a ride, beyond experimentation to commercial development and eventually adoption at scale.
Earlier this year, Mastercard worked with DBS and UOB to complete its first live authenticated agentic payment transaction in Singapore, in which an AI agent booked a ride to Changi Airport.
Noting that Singapore’s digital economy reached $144.1 billion in 2025, accounting for 19.3% of its gross domestic product, Tan said that the country wants to build on this momentum.
This could be done by helping more local businesses harness AI to raise productivity, develop new services, and compete globally.
“Mastercard’s investments will contribute to this ambition by anchoring more AI, cybersecurity, and innovation capabilities in Singapore,” he said.
“The Centre of Excellence will strengthen our digital ecosystem to create new opportunities for collaboration between global companies and local enterprises… Most importantly, it will create good jobs for Singaporeans as demand grows for specialised capabilities in AI engineering, data science, and cybersecurity.”
Minister for Energy, Trade and Industry (Energy and Industry) Tan See Leng touring Mastercard’s Innovation Centre of Excellence.
ST PHOTO: ARIFFIN JAMAR
Mastercard’s innovation centre will help develop AI solutions for commerce, as well as scam and fraud prevention.
It is expected to build on AI solutions that Mastercard has developed with partners.
These solutions include tools to verify and govern AI agents that help consumers find products suited to their budgets and needs, but with users having the final say on whether to make a purchase.
Another solution uses AI to analyse Mastercard’s anonymised transaction data from consumers and businesses, helping small and medium-sized enterprises assess the risks of potential suppliers before doing business with them.
A demonstration at Mastercard’s Innovation Centre of Excellence of how an AI agent can be used by a company to assess how risky potential suppliers are.
ST PHOTO: ARIFFIN JAMAR
The new facility will also monitor emerging risks in cybersecurity, geopolitics, fraud and natural disasters to protect the global payment ecosystem, such as by working with public and private sector partners to respond to cyberattacks.
The centre, which works with partners such as Interpol, will also enable Mastercard to deepen its relationship with the Singapore Police Force and the Cyber Security Agency of Singapore.
Mastercard customers will be able to explore emerging technologies for their businesses through immersive demonstrations and mock-ups, as well as quickly create prototypes, such as through 3D printing, that they can test and finetune.
Jon Huntsman, Mastercard’s vice-chairman and president for strategic growth, said: “This new investment reflects our confidence in Singapore’s future and Mastercard’s commitment to being a partner for the long term.”
