Mastercard to Hire 470 to Triple Size of Its Manhattan Tech Hub
(Bloomberg) -- Mastercard Inc. will hire 470 people as the world's second-largest payments network expands its technology hub in New York City.
The company will move to a new 212,000 square-foot location in Manhattan's Flatiron neighborhood, it said Thursday in a statement with Governor Andrew Cuomo. The firm, which already has 250 research-and-development and technology employees in the city, plans to add the new jobs by 2024.
Mastercard operates five tech hubs around the world as it seeks to transition from debit and credit cards to gadgets of all sizes. Along with larger rival Visa Inc. -- which operates its own laboratories -- the firm is in a race to figure out how people will spend their money in the future so their networks can continue handling the transactions.
“New York is an exceptional gateway for talent, innovation and collaboration,” Ed McLaughlin, president of operations and technology at Mastercard, said in the statement. “The activities in New York are a natural complement and expansion of our global effort to deliver the digital future today.”
Mastercard's other hubs are in St. Louis, Dublin, Sydney and India.
To contact the reporter on this story: Jenny Surane in New York at jsurane4@bloomberg.net.
To contact the editors responsible for this story: Michael J. Moore at mmoore55@bloomberg.net, Larry DiTore, Steven Crabill
©2017 Bloomberg L.P.
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
-
India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
-
France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
-
You May Inherit The Business. You Must Earn Its Credibility.
Succession tests the founder's ability to share authority as much as it tests the next generation's readiness to assume it.
-
Signing Deals Is One Thing; Making Them Work Is Another | The Week In Whys
Sometimes, things don't turn out as planned. Indian companies have lost some bids to rivals, some projects won't produce until 2030.
-
FOMC Wall, PERM Suspension, Hospital Stocks | Talking Points This Week
A PERM suspension would directly affect green-card sponsorship rather than H-1B visas, so the near-term earnings impact could remain relatively limited. The key question is whether this marks a new phase in US scrutiny of Indian IT.
-
Everything, Everywhere, All At Once: Dalal Street's Week To Forget | Joining The Dots
Visa curbs, a Starlink spat and cancer drug caps: what connects this week's shocks for Indian markets
-
India Is Going Abroad For Critical Minerals. But It May Take Years To Pay Off | The Reason Why
Although India's steps are in the right direction, they remain modest compared with India's growing dependence.
-
When Everyone Has AI, What Gives You An Edge?
India's young workforce is entering an uncertain world of work where powerful AI tools are becoming widely accessible. The advantage will belong to those who combine deep expertise with digital fluency, and the distinctly human capabilities that technology cannot manufacture.
-
Wrong Labels, High Pesticide Residues Holding Back Agri Exports | The Reason Why
India needs stronger domestic food-safety and labelling standards, with best practices becoming part of everyday business for farmers, traders and food companies.
