Smart South African company Augusta Holdings to set up HQ in Swansea Bay

by abayoflife.com - 19/11/2009

"South African company Augusta Holdings is setting up its UK headquarters in Swansea's SA1 Waterfront to develop technology and pioneer growth of prepaid smart card systems."

Augusta, one of the key international players in this field of financial technology, has already had considerable success in Africa where its prepaid smart card system is currently being rolled out and set to be used by millions.
SA1 Waterfront

The Welsh Assembly Government, through the Single Investment Fund and Finance Wales - the Assembly Government's investment arm with a 20% equity stake in the operation - is supporting their newly formed UK businesses - Augusta Systems Research and Development and Softech Systems.

Augusta made the decision to move to Wales to take advantage of the potential major market both in the UK and Europe. Initially the company will set up a research and development team to drive forward the technology, with an operations support centre planned for the future..

Marketing and Alliances Manager John Beer said the principles behind the Augusta prepaid card system are similar to the transition town movement where the aim is to keep money within local economies, to support local communities and local business.

"The Augusta system uses smart pre paid cards that give traders a mechanism to reward customers with loyalty vouchers or discounts.

"Prepaid cards also reduce the amount of money taken out of local economies through cash management fees and bank charges which are incurred when cash or credit and debit cards are used. Prepaid cards are particularly useful for paying for goods under £10 making them ideal for use in markets.

"We see a great opportunity to integrate the benefits of our system with existing smart card systems such as the over 60s transport card or bus pass which is currently used by eight million people, London's 'oyster' cards and the growing number of local authority cards used to access council services."

Ieuan Wyn Jones, Minister for the Economy and Transport, said the software systems development work undertaken by Augusta in Wales would create high quality job opportunities for Welsh graduates.

"I am pleased that Augusta has already established close links with both universities in Swansea and welcome this investment in a key sector and the potential for future growth."

Mr Beer said they are currently developing the inter-operability of their cards so they can be used in any town and are planning to run pilots in Norfolk, Suffolk and Liverpool.

Augusta is one of the first companies to benefit from the Prince of Wales Innovation Scholarship (POWIS), which is managed by the University of Wales and provides funding for postgraduate students to work on research projects in Welsh businesses.

Augusta has recruited graduates through ITWales and will also appoint a post graduate from Swansea University under a 20 week Knowledge Transfer Partnership, which is designed to drive innovation in the UK by encouraging businesses to tap into the expertise in academic institutions.

More Details: http://www.abayoflife.com/en/news/smart-south-african-company-augusta-holdings-to-set-up-hq-in-swansea-bay/