Global bank HSBC has on Tuesday announced its collaboration with Mastercard in Singapore to pilot new capabilities that support the future of business to business (B2B) commerce.
The proof of concept demonstrates end-to-end agentic commerce flows where trusted digital agents can help automate purchasing and payments for businesses, with controls and oversight, the bank said in a statement.
The Singapore pilot connects a procurement ecosystem including a multinational corporate buyer, Singapore-based procurement platform, SourceSage, and eCommerce supplier, FortyTwo, in an end-to-end agentic commerce journey built on Mastercard Agent Pay, facilitating secure tokenized payments, Merchant Discovery and Referral capabilities.
This pilot demonstrates the potential power of agentic commerce once buyers, suppliers and payment platforms are connected.
It also reinforces HSBC’s focus on enabling payment ecosystems through Global Payments Solutions, including commercial cards and digital merchant acquiring, supporting clients as they expand and reconfigure supply chains and operating models across key trade corridors.
It is noted that HSBC and Google Cloud’s Digital Frontiers 2030 report finds that 75 million digital entrepreneurs already drive 58 percent of ASEAN’s digital economy, generating $175 billion in gross transaction volume in 2025.
This is expected to reach $580 billion by 2030 as the marketplace model expands and cross-border integration creates more opportunities.
As buying and selling journeys become more automated, HSBC said it will continue to work with our clients and industry partners like Mastercard to introduce additional capabilities that continue to enable the digital ecosystem.
“Commerce is being rewired around platforms, automation and always-on expectations. This pilot demonstrates how B2B transactions, can be executed end-to-end with control, transparency and risk management from the start,
“In Singapore, where many businesses centralize regional procurement and treasury, we are seeing strong demand for solutions that connect buyers, platforms and suppliers seamlessly across payments, liquidity and reconciliation,” said Winnie Yap, Head of Global Payments Solutions, HSBC Singapore.
As the market evolves, she added HSBC and Mastercard are collaborating to accelerate co-creation of the agentic commerce journey with our clients.
“With all parties headquartered in Singapore, an established hub for innovation, we are combining HSBC’s and Mastercard’s global scale and expertise with our clients’ agility to test, learn, and refine new capabilities at pace,” she said.
Jessie Saw, Head of Product Management, Global Payments Solutions, HSBC Singapore, said they completed their first live transaction on May 29, moving from concept to real-world execution.
“Now the priority is commercialization: turning what we have proven in this pilot into a scalable, repeatable capability clients can adopt with confidence,
“Working closely with two forward-looking clients and partners across the ecosystem, we are applying the learnings to strengthen controls, streamline onboarding and operations, and define the model for broader rollout,” she added.
Minsook Cho, Country Manager, Singapore, Mastercard, said that for businesses in Singapore managing procurement and payments across the region, complexity has always been the challenge.
She noted that agentic commerce, when powered by Mastercard and delivered with HSBC, addresses this directly — and this pilot establishes that the building blocks are in place.
“Scaling this requires partners who bring both the institutional depth and the appetite to do things differently, and that is what working with HSBC has demonstrated,
“Together, we are defining what trusted, intelligent commerce can look like for businesses across the region,” she added.
HSBC also said it can support a broader ecosystem that includes buyers, platforms and suppliers—helping platforms accept payments, enabling buyers to pay efficiently, and supporting settlement, liquidity and reconciliation as the model evolves.
It said the firm continues to introduce various capabilities in Singapore to help clients embed payments into business journeys, improve visibility and control, and operate efficiently across borders.
This includes Digital Merchant Services and Mobile Virtual Card.
“Singapore’s role as a regional HQ and trade hub makes it a natural place for HSBC to scale ecosystem-based models that link regional procurement, cross-border commerce and multi-rail payments,” Yap added.
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