Visa sets up six global tech hubs in Singapore, with 1,500 staff at new Paya Lebar centre
Technologies and solutions developed in the Republic will be deployed across its global network
[SINGAPORE] Digital payments giant Visa will set up six hubs in Singapore to build capabilities in emerging technologies as the global payments landscape evolves.
Its new centre at Paya Lebar Green will bring together some 1,500 staff working on agentic artificial intelligence, next-generation payments and trusted commerce, the American firm said in a statement on Thursday (Nov 5).
It is unclear how many of these roles are new jobs. The Straits Times has reached out to Visa for clarification.
The technologies and solutions developed in the Republic will be deployed across Visa’s global network, the firm said.
“We’re entering an extraordinary period of commerce innovation, driven by AI, digital money and other emerging technologies,” said Visa’s president for technology Rajat Taneja.
“Our expanded presence in Singapore will bring together great talent, deep expertise and trusted infrastructure to build new commerce experiences around the world.”
Visa’s new set-up will span three domains including AI, where it aims to apply the technology to use cases in payments and fintech, and explore how AI agents can securely interact with merchants, consumers and payment networks.
It will also research the next-generation payments ecosystem such as digital money and stablecoins to support the evolution of new payment models, and work on cybersecurity to strengthen resilience across increasingly complex digital ecosystems.
Beng Kong Pee, executive vice-president of the Economic Development Board, said: “Visa’s latest investment in six global capability hubs here will create new high-value jobs for Singaporeans.”
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“It will also bolster Singapore’s role in developing innovative financial products and solutions in areas such as agentic commerce and quantum.”
Visa’s latest announcement comes after it said in July that it would cut about 2,600 jobs, or 7 per cent of its global workforce, amid a push for efficiency and to reinvest in its “highest potential opportunities”. THE STRAITS TIMES
