(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
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