Mastercard today announced the opening of the Australian Mastercard Global Tech Hub in Sydney. The Hub is the first in the southern hemisphere, with Sydney selected for its advanced marketplace and strong start-up community. The new site in St Leonards was officially launched by the Hon. Dominic Perrottet, NSW Treasurer, Minister for Industrial Relations and Deputy Leader of the New South Wales Liberal Party.
The new Global Tech Hub brings together 550+ Mastercard employees in one location with dedicated teams accelerating innovation beyond payments using new technologies and creative capabilities. The state-of-the art facility in Sydney will serve as a collaboration centre for Mastercard and its partners, providing a dedicated space to innovate with and for customers, and design, build and test solutions.
Speaking on the launch of the Tech Hub, NSW Treasurer Dominic Perrottet said, “The NSW Government is working very hard to promote innovation, adopt new technology and accelerate growth and investment. As Australia’s only global city Sydney is the doorway to the rest of the world and this new Tech Hub is another vote of confidence in the future of NSW.”
During the past five years, Mastercard has made important acquisitions in technology and services in Australia and across the globe, that have supported its transition from a payments company to an innovative payment technology and services provider.
As Mastercard broadens its focus to look at payment opportunities in retail, government and finance industries, co-creation is essential to drive innovation and deliver integrated solutions for clients, ultimately supporting its vision of a world beyond cash.
Commenting on the Australian Mastercard Global Tech Hub, Richard Wormald, division president Australasia, Mastercard said, “In the next five years we will see more change in payments than we’ve seen in the previous fifty years. Australia is a unique and advanced marketplace making it the perfect bed for testing and innovating with customers. By closing the gap between customers, product and development, businesses of all sizes – enterprises, SMEs or start-ups – are now able to bypass legacy approaches and develop innovation at an accelerated pace.”
Ed McLaughlin, president, Operations & Technology, Mastercard said, “Mastercard operates through technology centres that span the globe, enabling us to attract the best talent, work much more closely with our customers, and innovate faster on compelling, real-world technologies that are secure, convenient and relevant to consumers & merchants in their local communities.”
The new Global Tech Hub gives Mastercard an unprecedented advantage of developing and delivering tailored solutions for local and global partners.
If you are a Financial Services or FinTech company looking for assistance in what Sydney and NSW can offer you, contact the NSW Investment Concierge for assistance.