MasterCard Worldwide unveiled the expansion of its regional headquarter activities in Singapore to manage regional business as well as research and development of new payment solutions including emerging payments, chip, contactless, mobile and e-commerce.
The Singapore headquarters will act as a command and control center for intellectual property (IP) management, brand management, and to spearhead and manage growth in the region. The expansion will significantly increase MasterCard’s presence in Singapore under the regional leadership team led by Vicky Bindra, President Asia/Pacific, Middle East & Africa, MasterCard Worldwide.
MasterCard will use Singapore’s first class infrastructure and unrivalled quality of life to source and attract talent, including senior level executives from around the world in specific practice areas such as mobile technology, e-commerce and emerging payments.
The MasterCard headquarters will also leverage Singapore’s strength in R&D and innovation for developing new payment solutions. Through its Singapore base, MasterCard will be able to enhance research and development through MasterCard Labs, Technologies Operations and a Chip Centre of Excellence (CCoE), covering the full range of upstream research, hardware and software solution development.
The MasterCard Labs—only the third such lab in the world—will work alongside its counterparts in the US and Ireland to enhance R&D in the region, with responsibility for all work relating to conceptualization; proof of concept; pilot studies; and ensuring that industry-leading innovative payment solutions are brought to the market faster.