VISA Inc will expand its technology hub in Singapore, a move that will see the creation of about 185 jobs in technology research-and-development in the Republic.
This is part of the company's push to raise its global technical headcount and thus, to accelerate its global-technology strategy, it said on Wednesday.
The 185 new positions here comprise almost 10 per cent of the approximately 2,000 technology roles the company is creating around the world, including the positions in its new global-technology centre in India.
Chris Clark, the group executive for Visa in the Asia-Pacific, said: "With growing financial services and IT sectors, Singapore is fast establishing itself as the financial and high-tech hub for the region. We are proud to be expanding our presence here and we aim to tap into the world-class innovation resources as we accelerate the shift to electronic payments and drive innovation in mobile and digital platforms."
Visa disclosed that, in many cases, contract positions will be converted to permanent ones to maintain momentum around new, critical technology initiatives underway in the company.
It added that it would team up with the Singapore Economic Development Board (EDB) to help in the recruitment of top technology talent.
Kelvin Wong, an assistant managing director at the EDB, said: "We are pleased that Visa has chosen to strengthen its presence in Singapore by locating a key global technology research-and-development centre here. Its investment is a strong vote of confidence in Singapore's position as the innovation hub, and addresses the growth opportunities in Asia.
"Its focus on mobile solutions, data analytics and information security will also draw from a strong base in research-and-development activities and technology infrastructure here in Singapore."
Rajat Taneja, Visa's executive vice-president of technology, revealed that the company was looking for "creative, entrepreneurial tech professionals who can help build the next generation of payment products and platforms".
Passionate about partnering with technology and commerce leaders to shape the payments experience, they will bring engineering insights to Visa's global processing network, he said.