Visa said it plans six Singapore technology hubs to develop work for its global network, with about 1,500 staff at a new center focused on artificial intelligence, payments and cybersecurity.
The center is planned for Paya Lebar Green, according to Visa’s Nov. 5 statement. Visa cast the hubs as a way to build technical capacity as payment systems change.
The hubs span three work areas: cybersecurity, next-generation payment models, and AI applications in payments and financial technology. Visa said its cybersecurity teams will seek to strengthen resilience as digital ecosystems become more complex. Payment researchers will examine digital money, including stablecoins, as part of work on new payment models. AI specialists will explore safeguards for agents communicating with payment networks, consumers and merchants.
Rajat Taneja, Visa’s president for technology, said, “We’re entering an extraordinary period of commerce innovation.” He said the expanded Singapore operation would bring together expertise and infrastructure to support new commerce services for use around the world.
Pee Beng Kong, executive vice president of Singapore’s Economic Development Board, said the investment would “create new high-value jobs for Singaporeans.” He said it would also support financial product development in areas such as agentic commerce and quantum.
Visa announced the center after a July plan to cut about 2,600 jobs, which the company said represented 7% of its global workforce. It tied those reductions to an effort to improve efficiency and redirect resources toward areas it considered to offer greater potential. The center’s planned staffing figure does not establish how many new positions Visa would add.
The Straits Times reported that Visa had not said how many positions at the center would be new hires. The newspaper said it had sought clarification from the company.
