Mastercard commits $510 million for new global cybersecurity centre in Vancouver

Jan 23 09:01 2020 Print This Article

In an announcement at the fiftieth annual World Economic Forum currently being held in Davos, Switzerland, Minister Navdeep Bains and Ajay Banga, CEO of Mastercard, revealed today that Mastercard will open its latest global technology centre in Vancouver.

“Somebody has to take the initiative to really drive a meaningful approach to how we create trust.”

Mastercard is investing $510 million to build out the centre, intended to be an innovation hub for digital and cyber security, artificial intelligence (AI), and the Internet of Things (IoT). Called the Intelligence and Cyber Centre, the space is Mastercard’s sixth global technology centre and its first in Canada.

The more than half a billion dollar project is supported by the federal government through the Strategic Innovation Fund (SIF), which will supply $49 million, bringing the overall project total to $559 million.

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