HSBC has announced a collaboration with Mastercard to pilot innovative business-to-business (B2B) payment capabilities in Singapore. This initiative aims to streamline digital commerce by automating purchasing and payments through trusted digital agents, enhancing control and oversight for businesses.
The pilot project connects a multinational corporate buyer, Singapore-based procurement platform SourceSage, and eCommerce supplier FortyTwo. Utilising Mastercard Agent Pay, the project facilitates secure tokenised payments and offers Merchant Discovery and Referral capabilities. This integration showcases the potential of agentic commerce when buyers, suppliers, and payment platforms are seamlessly connected.
HSBC is committed to embedding payments into business processes, improving visibility and control, and enabling efficient cross-border operations. Key features include Digital Merchant Services, which allows merchants to accept various payment methods through a single interface, and the HSBC Mobile Virtual Card, which offers businesses enhanced spending control and easier tracking and reconciliation.
Winnie Yap, Head of Global Payments Solutions at HSBC Singapore, stated, “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.”
Minsook Cho, Country Manager for Singapore at Mastercard, added, “Agentic commerce, when powered by Mastercard and delivered with HSBC, addresses complexity directly. Together, we are defining what trusted, intelligent commerce can look like for businesses across the region.”
This collaboration marks a significant step in redefining B2B commerce, with potential implications for businesses seeking streamlined and secure payment solutions.
