Mastercard has opened a Global Intelligence and Cyber Centre in Vancouver, Canada, allowing it to research digital and cyber security, artificial intelligence and the Internet of Things, according to a company press release.
Mastercard invested $510 million into the facility, which is being developed with help from the Canadian government's Strategic Innovation Fund. Mastercard will use the center to develop cyber solutions for the global payments ecosystem.
"Ensuring payments are both convenient and secure has always been a top priority for Mastercard," Ajay Banga, president and CEO at Mastercard, said in the release. "The Vancouver centre will help us meet the growing demand for technology solutions to reduce the cost of cyber attacks, enable today's connected devices to become tomorrow's secure payment devices and address the growing vulnerabilities associated with the Internet of Things."
The centre is located in the city's Old Restored Stock Exchange building, which is home to the NuData security team and members of Mastercard's Research & Development, Operations & Technology and Cyber & Intelligence divisions.
