MasterCard Labs to Bring in Deep Tech to Quicken its Services

MasterCard Labs to Bring in Deep Tech to Quicken its Services

The Irish branch of multinational corporation MasterCard is ready to include AI, blockchain, and machine learning into its payments solutions.

MasterCard’s Irish offshoot is looking forward to upgrading the speed of its payment systems. Ken Moore, EVP and Head of MasterCard Labs, mentions that the company is going to go beyond the usual hype associated with blockchain and develop actual products and services that will cater to the needs of their customers.

MasterCard Labs, the Research Development office of MasterCard, is planning to employ QR payment solutions, Artificial Intelligence, and blockchain to make their system safe, protected, and fast. They will be incorporating biometrics to verify identities, virtual and augmented reality to give customers an entirely new retail experience, and a chatbot enabled with payments technology to make booking flights or ordering food convenient for its customers.

Mastercard Ireland holds $45 million in capital. It has been running at a loss in previous years due to failing to be revenue driven. The subsidiary has been absorbing the cost of producing new products for MasterCard globally.

To help make their vision of using deep tech a reality, MasterCard Labs is hiring new team players locally. 175 new jobs are open. The company is looking to add blockchain and cloud infrastructure specialists, data scientists, software engineers, and analysts.

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