HSBC and Mastercard have completed a Singapore pilot that used digital agents in corporate procurement and payments.
The May 29 transaction connected a multinational corporate buyer with procurement platform SourceSage and FortyTwo, a Singapore e-commerce supplier.
The transaction was built on Mastercard Agent Pay and used tokenised payments, Merchant Discovery and Referral capabilities.
It was executed directly on the FortyTwo.sg platform and used Juspay’s technology stack. SourceSage’s AI agents supported the buyer and supplier sides of the procurement and commerce journey.
HSBC says the proof of concept showed how trusted digital agents can help automate purchasing and payments for businesses with controls and oversight. It also connected buyers, suppliers and payment platforms through HSBC’s payments and liquidity capabilities.
Agentic commerce, also known as agent-based commerce, refers to digital commerce where autonomous AI agents can execute purchasing and payment processes on behalf of consumers and businesses, with minimal real-time human involvement.
See also: Restoring trust and human authenticity in a synthetic internet
“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,” says Winnie Yap, HSBC Singapore’s head of Global Payments Solutions.
Jessie Saw, head of product management, Global Payments Solutions, HSBC Singapore, adds: “We completed our first live transaction on 29 May 2026, moving from concept to real-world execution. Now the priority is commercialisation: turning what we have proven in this pilot into a scalable, repeatable capability clients can adopt with confidence.”
According to Mastercard Singapore country manager Minsook Cho, businesses in Singapore face complexity when managing procurement and payments across the region. “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,” she says.
See also: Indonesian subsea cable operators upgrade capacity with Ciena
The pilot sits alongside HSBC’s broader digital commerce offering, which includes digital merchant acquiring and commercial cards. HSBC introduced Digital Merchant Services in India and Singapore last year, after a rollout in Hong Kong.
HSBC and Mastercard have also launched HSBC’s first mobile virtual cards for corporate customers in Singapore. The cards allow businesses to set spending limits, usage rules, and assign cards to specific teams, suppliers or projects.
HSBC says the mobile virtual card will be available to Singapore-based corporate clients by the end of June 2026.
