Mastercard Picks Sydney As Its New Global AI & Machine Learning Hub

Mastercard Picks Sydney As Its New Global AI & Machine Learning Hub

Mastercard Expands Its Global Tech Hub and Innovation Centre in Sydney; Focus Mainly on AI, Machine Learning, and Cybersecurity

In the first of its kind development in the Australian AI and research industry, the global payments leader, Mastercard is all set to move 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.

MasterCard’s Global Innovation Footprint
MasterCard’s Global Innovation Footprint

At the time of this announcement, 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.”

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Mastercard 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 Centers, offering technology and innovation services to partners globally.

The announcement forms part of the Mastercard strategy to evolve beyond payments – as rapid urbanization and new technologies foster the shift to mobile, the proliferation of Big Data, and a growing demand for cybersecurity.

“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,” said Richard Wormald, Division President of Mastercard Australasia.

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Richard added, “As the internet continues to reshape the payments industry and create new opportunities, (a) 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.”

The new space will have dedicated technology teams to accelerate innovation across key growth areas of artificial intelligence, machine learning, and cybersecurity; giving Mastercard the unprecedented advantage of developing and delivering tailored solutions for local and global partners.

This new offering will complement our key technology center 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 is working with leading Australian architects Davenport Campbell to design the new space. The design and build are due to commence this year, with Mastercard employees relocating from mid-2018.

Currently,  Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone.

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