UK mobile money outfit Monitise has opened a research and development technology centre in South Wales that will initially create 40 new jobs, with the potential for more in the future.
The centre will focus on the development and testing of mobile banking, payments and commerce services.
Monitise says it chose Wales because of the expertise within local universities including the University of Glamorgan's Centre of Excellence in Mobile Applications and Services, which already works with a number of key players in the mobile industry.
Monitise chief information officer Mike Keyworth says the company will be looking to forge strong links with local colleges and universities and to help train young graduates.
"The skills which developers and graduates are bringing into our business are broadening and improving all the time," he says. "That is increasingly important for an international technology business like ours that has mobile money services around the world."