HSBC and Mastercard test AI-led B2B procurement and payments in Singapore using Mastercard Agent Pay.
HSBC and Mastercard have completed a pilot for agentic B2B procurement and payments in Singapore, testing how AI agents can support business purchases within defined controls.
The proof of concept connected a multinational corporate buyer with Singapore-based procurement platform SourceSage and ecommerce supplier FortyTwo. It used Mastercard Agent Pay, tokenised payments, merchant discovery and referral tools.
The pilot explored how trusted AI agents can automate parts of the purchasing journey, from finding suppliers to completing payments, while maintaining transparency and oversight.
Unlike traditional AI tools that only recommend actions, agentic systems can execute tasks within limits set by the business. This could help companies reduce manual procurement work and simplify payment workflows.
Singapore was selected as the test market because many companies manage regional procurement and treasury operations from the city-state. The pilot also comes as regulators increase their focus on AI governance and risk controls in financial services.
For HSBC and Mastercard, the project reflects a broader shift toward AI-led commerce, where software can support business transactions directly while operating within clear spending, compliance and approval boundaries.
