HSBC Tests Agentic Payments for B2B Commerce in Singapore
Source: Fintech News SG
HSBC has completed a pilot of B2B agentic commerce transactions in Singapore with Mastercard, using AI agents to automate business purchasing and payments with built-in controls and transparency.
HSBC has successfully tested B2B agentic commerce transactions in Singapore alongside Mastercard, marking one of the first real-world demonstrations of AI-driven business payments in the region. The pilot, completed on 29 May 2026, involved a multinational corporate buyer, Singapore-based procurement platform SourceSage, and e-commerce supplier FortyTwo, using Mastercards Agent Pay technology with tokenised payments and merchant discovery capabilities.
The proof-of-concept shows how digital agents could handle the end-to-end purchasing and payment process for businesses from identifying suppliers to settling invoices while keeping controls, transparency, and risk management embedded throughout. HSBC framed the initiative as part of its broader push to connect buyers, procurement platforms, and suppliers through its Global Payments Solutions division, including commercial cards and digital merchant acquiring.
This isnt just a tech demo. Agentic commerce addresses a real pain point for businesses managing procurement across Asia-Pacific, where complexity and manual processes remain widespread. HSBC and Google Cloud expect ASEAN digital commerce transaction volume to grow from US75 billion in 2025 to US80 billion by 2030. Automating B2B payments through AI agents could capture significant efficiency gains in that expanding market.
Why it matters for Singapore: As a regional hub where many multinationals centralise procurement and treasury operations, Singapore is a natural testing ground for agentic B2B payments. Winnie Yap, HSBC Singapores Head of Global Payments Solutions, noted strong local demand for solutions that connect buyers, platforms, and suppliers seamlessly. The pilot also dovetails with HSBCs launch of mobile virtual cards for Singapore corporate clients this month, signalling the city-state as a launchpad for next-generation payment infrastructure.