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Visa Unveils Revamped Singapore Innovation Center, Advancing Global Strategy In Smarter Payments

KUALA LUMPUR: Visa, a world leader in payments, today announced the opening of its transformed Singapore Innovation Center, a dedicated space for partners, clients and businesses in Asia Pacific.

Laying symbolic building blocks to launch the revamped Visa Singapore Innovation Center. (From left to right) Visa chief product and strategy officer Jack Forestell, Singapore Economic Development Board chairman Png Cheong Boon and Visa president, Asia Pacific Stephen Karpin.

The centre enables stakeholders to engage with Visa technologists to co-create payment solutions ahead of demand as the payments landscape evolves rapidly,  delivering scalable innovation and addressing the biggest challenges and opportunities in digital payments in the region.

Visa president Asia Pacific Stephen Karpin said Visa is bringing ideas to life in a way that’s truly unique to the Singapore Innovation Center, a dynamic hub where it transforms innovative concepts into practical solutions.

“We are dedicated to helping businesses discover valuable insights early so they continue to stay ahead in the rapidly digitalising payments landscape.

“By combining our expertise with cutting-edge technology and solution architecture, we work alongside our partners to materialise solutions that address payment challenges, driving real business value and growth for our clients,” he said in a statement.

The Visa Singapore Innovation Center represents Visa’s vision of shaping tomorrow’s payment possibilities.

Showcasing technologies like artificial intelligence (AI) in retail and payments, and reimagining modern credentials for enhanced security and convenience, it also serves as a springboard for thought leadership in decentralised and embedded finance, offering tailored solutions for businesses and fostering innovative collaborations with startups.

Singapore Economic Development Board chairman Png Cheong Boon said the Visa Singapore Innovation Center deepens the longstanding partnership between Visa and Singapore and enables Visa to tap into the country’s vibrant innovation ecosystem to develop new solutions and create new business opportunities for the global market.

“We look forward to strengthening and expanding this close partnership with Visa and also hope to encourage more global companies to undertake such activities in Singapore,” he said.

Visa’s Singapore Innovation Center is at the forefront of developing advanced payment technologies, focusing on delivering significant business benefits.

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