Payment cards giant Mastercard has migrated much of its research and development work to Sydney, combining a new “global tech hub” with its corporate and operations offices in inner-suburban St Leonards.
The launch of the new facility, which will house more than 550 Mastercard employees, comes as card schemes try to keep up with local bank investments in various fintech ventures.
NSW Treasurer Dominic Perrottet cut the ribbon on the facility as the State Government seeks to push its tech job creation credentials ahead of a looming NSW election.
The payments scheme already has a strong relationship with major agencies, including Transport for NSW, where the use of everyday payment cards to access public transport instead of Opal card tickets is already underway.
