Mastercard to add 250 Singapore jobs by 2029, opens first APAC innovation hub

Mastercard said on Nov 12 that it will hire 250 more people for its Singapore office by the end of 2029. The city-state hosts its Asia-Pacific headquarters, which the company describes as a key market support centre for the region. Headcount there currently sits above 850, and the new roles would push it past 1,000. Mastercard says the additions will cover responsible AI, trusted digital commerce, cybersecurity, data and payments.

The hiring news came with the launch of Mastercard's first Innovation Centre of Excellence in Asia-Pacific, a 7,200 sq ft facility inside its DUO Tower office on Fraser Street. More than 55 employees already staff it, bringing expertise in artificial intelligence, cybersecurity, customer experience and rapid prototyping. Four Mastercard operations now sit under one roof: an AI Centre of Excellence, a Fusion Centre, a Mastercard Experience Centre and a Makerspace.

Speaking at the opening, Minister for Energy, Trade 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 the innovation centre will deepen the country's talent pipeline and that hiring young talent should not be viewed simply as an immediate cost to the business, but an investment in future capabilities, leadership pipeline and long-term competitiveness.

Richard Wormald, Mastercard's president for Asia-Pacific, said the company hopes to keep working with local businesses and universities to create the next generation of talent in Singapore. The centre will develop solutions for more than 40 markets across the region, with the strongest ideas potentially adopted globally. Mastercard previously worked with DBS and UOB on Singapore's first live authenticated agentic payment transaction, in which an AI agent booked a ride to Changi Airport.

The facility's remit spans AI commerce tools, scam and fraud prevention, and monitoring emerging risks in cybersecurity, geopolitics, fraud and natural disasters. It works with partners including Interpol and will deepen Mastercard's relationships with the Singapore Police Force and the Cyber Security Agency of Singapore. Tan pointed to Singapore's digital economy reaching $144.1 billion in 2025, or 19.3% of gross domestic product.

Jon Huntsman, Mastercard's vice-chairman and president for strategic growth, framed the push as a long bet: the investment reflects the company's confidence in Singapore's future and its commitment to being a partner for the long term.