Mastercard has announced plans to establish its fifth global tech hub and innovation centre in Sydney in 2018.
The payments company’s Sydney-based employees and businesses will be shifted to the new space in St Leonards.
The team at the new hub will work to develop advanced payments platforms using artificial intelligence, blockchain, natural language processing and robotics.
Mastercard Australia division president Richard Wormald said: “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.”
Mastercard’s other four global tech hub and innovation centre are located in St. Louis, New York City, India, and Dublin.