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HSBC has tested B2B agentic commerce transactions in Singapore with Mastercard as banks look for new ways to automate business payments.
The pilot was completed on 29 May 2026 and involved a multinational corporate buyer, Singapore-based procurement platform SourceSage and e-commerce supplier FortyTwo.
The transaction was built on Mastercard Agent Pay and used tokenised payments, merchant discovery and referral capabilities.
The proof of concept shows how digital agents could help businesses manage purchasing and payments with controls, transparency and risk management built into the process.
HSBC framed the pilot as part of its wider push to support payment ecosystems through Global Payments Solutions, including commercial cards and digital merchant acquiring.
The bank is looking to connect buyers, procurement platforms and suppliers through payment, liquidity and reconciliation services.
Winnie Yap
Winnie Yap, Head of Global Payments Solutions, HSBC Singapore, said:
“This pilot demonstrates how B2B transactions, can be executed end-to-end with control, transparency and risk management from the start.
In Singapore, where many businesses centralise regional procurement and treasury, we are seeing strong demand for solutions that connect buyers, platforms and suppliers seamlessly across payments, liquidity and reconciliation.”
Minsook Cho
Minsook Cho, Country Manager, Singapore, Mastercard, said,
“For businesses in Singapore managing procurement and payments across the region, complexity has always been the challenge. 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.”
HSBC has also expanded its Digital Merchant Services to India and Singapore, following an earlier rollout in Hong Kong.
The service allows digital merchants and marketplaces to accept cards, digital wallets and real-time transfers through a single contract and interface.
It supports 14 payment methods across the three markets.
The agentic commerce pilot used Juspay’s technology stack, extending HSBC’s existing Digital Merchant Services partnership with the payments infrastructure company.
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, apply usage rules and assign cards to specific teams, suppliers or projects.
The cards can be used at physical point-of-sale terminals, as well as for in-app and online purchases.
HSBC Mobile Virtual Card will be available to Singapore-based corporate clients by end-June 2026.
Featured image: Edited by Fintech News Singapore, based on image by jamesteoh1976 via Magnific
