The Sydney suburb of St Leonards is the home to the Australian Mastercard Global Tech Hub, which was formally opened today by NSW Treasurer Dominic Perrottet.
Mastercard said that the hub will host some 550 of its employees, as well as serve as a centre of collaboration with the company’s partners.
“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,” the company said in a statement.
“In the next five years we will see more change in payments than we’ve seen in the previous 50 years,” said Richard Wormald, division president of Mastercard in Australasia.
“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.”