Fahmi: Presence of Mastercard’s Data and Services Hub in KL strengthens Malaysia’s status as leader in digital economy

Minister of Communications and Digital Fahmi Fadzil (The Edge filepix by Suhaimi Yusuf)

KUALA LUMPUR, May 9: The opening of Mastercard’s Data and Services Hub in the capital further strengthens the country’s status as a preferred choice of digital economic landscape in the region, said Minister of Communications and Digital Fahmi Fadzil.

Fahmi said Malaysia is able to attract leading global names to set up their data hub in the country, which is in line with the government’s commitment to turn Malaysia into a leader in digital economy.

“I launched the new Mastercard Data and Services Hub in Malaysia, which will serve the Asia Pacific region,” he said in his Facebook posting on Tuesday (May 9).

Meanwhile, Mastercard, in a statement noted that the Mastercard Data and Services Hub in Malaysia, which will serve clients across the Asia Pacific region with a suite of offerings beyond transactions, will also nurture a talent pipeline across a range of capabilities focusing on data science, product development and payments consulting.

The global payment technology solution company said the hub in Kuala Lumpur will support the organisation in the provision of solutions to partners in the areas of cybersecurity, credit risk and data analytics, to help local clients and those across the region to scale and enable their businesses’ potential.

Mastercard’s country manager, Malaysia and Brunei, Beena Pothen pointed out that having a Mastercard Data and Services Hub in Malaysia reiterates Mastercard’s commitment to contribute to the country’s ambition for the digital economy and to help develop a pipeline of talent in the country, since Malaysia provides an excellent backdrop in terms of infrastructure, technology and people.

“The digital economy is a key contributor for growth in Malaysia and is expected to represent a quarter of the country’s entire gross domestic product (GDP) by 2025, meaning there is a clear need to build on digital capabilities, nurture talent and invest in upskilling to support long-term growth,” she added.

The launch of the Mastercard Data and Services Hub follows the announcement in March of a partnership between Mastercard and Universiti Teknologi Malaysia (UTM) to build a Cyber Innovation Hub.

Leveraging Mastercard’s cybersecurity expertise alongside UTM’s education infrastructure, the new facility will offer skills training and courses on cybersecurity related fields to students and mid-career professionals, aiming to build a cyber-ready workforce and strengthen the country’s digital resilience.

Source: The Edge Malaysia

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