Visa opens its first Innovation Centre in Asia

Visa Inc. this week announced the opening of its Singapore innovation centre, the first in a network of new innovation centres that Visa is opening around the world.

The new 7,000 square foot facility in Singapore has been established as a destination for clients, partners and developers across the region to work alongside Visa experts and jointly create the next generation of commerce applications.

The innovation centre in Singapore builds on the success of Visa's flagship innovation centre, One Market Centre, which was opened in July 2014, and is located at the company's headquarters in San Francisco, the company said in a media statement.

Additional innovation centres will be opened in other regions later this year, and in 2017.

Accessible to both local and global clients, the innovation centre in Singapore will provide Visa partners access to Visa APIs and software developer kits (SDKs) available through the company's Visa Developer Platform. A hands-on, real-time work space staffed by Visa technologists and business leaders, the innovation centre in Singapore will operate as a commercial gateway, helping Visa partners from across the world to build market-relevant payment and commerce solutions that extend their service offerings into Asia.

Dr. Beh Swan Gin, Chairman of the Singapore Economic Development Board said that, "the centre will focus on the development of leading-edge technology, new applications and business model innovation for clients and key partners in this region. Visa seeks to collaborate with the broader corporate ecosystem in Singapore, including start-ups. Visa's decision is a strong affirmation of Singapore's growing role as an innovation hotbed in this region."