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Tuesday, 14 November 2017 11:08

Mastercard announces Global Tech Hub and Innovation Centre in Sydney by mid-2018

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With AI, machine learning and cyber security to be key focus areas of the new Tech Hub that will be home to Mastercard’s Sydney-based operations, it all opens in one location in 2018.

Mastercard has announced it will "relocate its Sydney-based employees and businesses to one location in 2018. The new premises in St Leonards will become one of five Mastercard Global Tech Hub and Innovation Centres, offering technology and innovation services to partners globally".

The announcement forms part of "the Mastercard strategy to evolve beyond payments – as rapid urbanisation and new technologies foster the shift to mobile, the proliferation of big data, and a growing demand for cyber security".

Richard Wormald, division president of Mastercard Australasia, said: Over the past five years, Mastercard has made important acquisitions in technology and services that have helped it gain momentum towards its vision of becoming an innovative technology and services leader.

“As the Internet continues to reshape the payments industry and create new opportunities, business must evolve their offerings to keep up with new demands. Mastercard is leading the way, acquiring assets that place innovation at the core of our offering and by bringing together all of our 560 Sydney-based people to unite in a practice of innovation.”

We're told that "the new space will have dedicated technology teams to accelerate innovation across key growth areas of artificial intelligence, machine learning and cyber security; giving Mastercard the unprecedented advantage of developing and delivering tailored solutions for local and global partners".

Kush Saxena, global chief technology officer for Mastercard, said: "Australia is the perfect location for our new Tech Hub. We are already providing our local partners with a range of innovative business solutions and by opening a hub in Sydney, we’ll be able to deliver more dedicated services and solutions more quickly than ever before and on a global scale.

"This new offering will complement the key technology centre in Brisbane and build upon Mastercard’s St. Louis, New York City, India (Pune-Vadodara), and Dublin hubs, reinforcing the business’s commitment to developing the most cutting-edge payment technologies and services."

Mastercard notes it is "working with leading Australian architects Davenport Campbell to design the new space. The design and build is due to commence this year, with Mastercard employees relocating from mid-2018".

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Alex Zaharov-Reutt

Alex Zaharov-Reutt is iTWire's Technology Editor is one of Australia’s best-known technology journalists and consumer tech experts, Alex has appeared in his capacity as technology expert on all of Australia’s free-to-air and pay TV networks on all the major news and current affairs programs, on commercial and public radio, and technology, lifestyle and reality TV shows. Visit Alex at Twitter here.

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