Mastercard Opens European Tech Hub in Dublin

Mastercard, Dublin, tech hub, Europe

Mastercard has opened “One South County,” its European technology hub in Dublin, the company announced Thursday (April 7).

The 138,210-square-foot property allows Mastercard to accommodate more than 2,000 workers by 2025, as the payments technology company grows its 975-person workforce, the company said.

Mastercard said it expects the hub to attract technologies dedicated to shaping the future of commerce. It will feature experts in payments security, APIs, emerging technologies and more.

The hub will also serve as the headquarters for Mastercard’s research and development division, dubbed ‘The Foundry.’

“By increasing our global technology footprint, we can be in closer proximity to our customers and stay at the cutting edge of emerging payment technology in support of all our stakeholders,” said Ed McLaughlin, president of Mastercard operations and technology, in a statement.

More than two years ago, Mastercard announced plans to expand its Leopardstown, South Dublin tech hub.

Read more: Mastercard To Expand Euro Tech Hub In Dublin

Mastercard launched operations in Ireland in 2008, with three dozen staffers at the location.

At the time, Mastercard said the building will support Mastercard in continuing to evolve its ‘Future of Work’ approach, which focuses on how, where and when employees collaborate.


45% of Non-Recurring Transactions Now Use Instant Payments

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The gig economy and gaming industries have driven a rise in ad hoc transactions, payments made outside of regular invoicing and payroll. Businesses are relying on instant payments to streamline these transactions, which involve contractors, consumers and small businesses.

According to a PYMNTS Intelligence report, “Gigs and Games: How Instant Payments Are Gaining Ground for Ad Hoc Transactions,” a collaboration with Ingo Payments, with increased demand for efficiency and speed, instant payment systems are becoming a preferred solution, though obstacles to wider adoption remain.

Instant Payments Comprise Nearly Half of Ad Hoc Transactions

Instant payments are gaining in popularity for ad hoc transactions, according to the report. With the demand for quicker and more efficient methods of payment, businesses are adopting real-time payment systems to facilitate faster transactions, reduce fraud risk and improve overall financial processes.

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PYMNTS found 45% of all ad hoc payments made in July 2024 were sent via instant methods, a notable increase from 36% earlier in the year. Industries that rely heavily on nonrecurring payments, such as gaming and the gig economy, have seen the most significant uptake.

Larger Enterprises Leading the Shift

Larger companies are leading the adoption of instant payments for ad hoc transactions. Businesses with more than $1 billion in revenue are sending half of their ad hoc payments via instant rails, revealing a preference for speed and efficiency. Smaller companies, however, are lagging in adoption, with those earning between $50 million and $100 million turning to instant methods for just 34% of ad hoc payments. The delay in adoption among smaller enterprises is often linked to the high costs of integrating instant payment systems into their existing processes.

Despite this, the trend toward adopting instant payment methods is gaining momentum across the board. Many large enterprises view instant payments as the future standard for ad hoc transactions, especially in business models that no longer rely on recurring payees, such as contractors or freelance workers. But challenges persist in scaling this technology across industries of all sizes.

Barriers to Broader Instant Payment Adoption

While instant payments offer considerable benefits, particularly in terms of speed, cost savings, and enhanced customer/vendor retention, the report shows businesses face obstacles in fully adopting them. For many enterprises, the cost of integrating real-time payment systems remains the primary barrier. According to the report, 35% of businesses cite integration costs as the biggest obstacle to adopting instant payments for ad hoc transactions.

Additionally, there is a digital divide, with industries like gaming and the gig economy leading the charge in adopting instant payment systems. But two-thirds of small and medium-sized businesses (SMBs), particularly those in industries with less digital momentum, are dealing with the costs and complexities of implementing these systems. Despite these challenges, businesses that do embrace instant payments could gain a competitive edge by securing customer and vendor loyalty, driving down transaction costs, and improving cash flow management.