HSBC and Mastercard said on June 9 that they were piloting agentic commerce for business-to-business (B2B) procurement and payments in Singapore.

The proof of concept links a multinational corporate buyer, Singapore-based procurement platform SourceSage, and ecommerce supplier FortyTwo through Mastercard Agent Pay, tokenised payments, and merchant discovery and referral tools.

HSBC said the pilot would let trusted digital agents automate parts of purchasing and payment while keeping controls and oversight in place.

Mastercard added that the model lets software execute tasks within set boundaries rather than only making recommendations.

HSBC said Singapore was a suitable testbed because many companies base regional procurement and treasury operations there.

The pilot also comes as Singapore develops AI guardrails for finance, with the Monetary Authority of Singapore proposing guidance covering AI agents and setting expectations for oversight, controls, and risk management.

HSBC also pointed to its Digital Merchant Services and Mobile Virtual Card products in Singapore, while rivals including Visa promoted tools for AI systems to source and pay suppliers.

🔗 Source: HSBC Singapore

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