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Net1 launches Zazoo in the UK
Net 1 UEPS Technologies, Inc.
Registered in the state of Florida, USA
(IRS Employer Identification No. 98-0171860)
Nasdaq share code: UEPS
JSE share code: NT1
ISIN: US64107N2062
(“Net1”)
NET1 LAUNCHES ZAZOO IN THE UK
ZAZOO is well-positioned to become an exciting global technology company at the forefront of
payment solutions, with a range of innovative products
Johannesburg, February 5, 2015: Net 1 UEPS Technologies, Inc. (Nasdaq: UEPS; JSE: NT1) today
announced that it has established a new subsidiary in the United Kingdom called Zazoo Limited
(“ZAZOO”) to oversee the global expansion of Net1’s mobile payments and value-added services
businesses, including the activities currently conducted through its Net1 Mobile Solutions
(“N1MS”) business unit based in Johannesburg, South Africa. ZAZOO’s management will focus on
worldwide growth opportunities, especially in the UK, Europe, the USA, India and other developed
and emerging markets. ZAZOO will coordinate all research and development, operations and
marketing activities associated with Net1’s mobile businesses.
“Mobile presents one of the greatest untapped opportunities in the payments industry and we
believe our mobile technologies and intellectual property are poised to capture these opportunities.
With a dedicated brand, a focused management team and a strong sales pipeline, we are highly
optimistic about driving the next leg of growth for Net1”, said Dr. Serge Belamant, Chairman and
CEO of Net1.
“ZAZOO is well-positioned to become an exciting global technology company at the forefront of
payment solutions, with a range of innovative products,” said Philip Belamant, Managing Director
of ZAZOO. We intend to take Net1’s patented technology solutions to new markets and new
clients, with London serving as a convenient hub from which we will coordinate all our global
efforts, unlock the value of our products and solutions and build a technology company for the
future. We chose the name ZAZOO and our new corporate logo because it’s catchy and memorable
and evokes a sense of energy that reflects the spirit and passion of our business culture,” Belamant
added.
Net1 acquired Pbel, an innovative young mobile technology company, in 2012. Net1 then combined
Pbel with its FIHRST and Prism businesses in 2013 to create N1MS and unlock the inherent
synergies of those businesses.
“N1MS has demonstrated robust growth in revenue and profitability over the last two years and has
become a significant contributor to Net1’s results,” said Herman Kotzé, Chief Financial Officer of
Net1. “We believe that we are only at the beginning of this growth trajectory and that there are
multiple opportunities to capture significant commercial value from N1MS’ innovative
technologies,” Kotzé added.
Looking ahead
“N1MS has offered its customers access to highly relevant payment products and solutions. Our
technology, security and infrastructure are the differentiators that have enabled solid relationships
with our clients. We are first and foremost a technology company and we intend to continue to be a
leading innovator in the payments solutions space” said Philip Belamant.
“We remain fully committed to the South African and African markets, to our local operations and
employees. We look forward to entering multiple large markets and adding new products to our
existing suite of innovative solutions” Belamant concluded.
About Zazoo
www.zazooltd.com
ZAZOO is an aggregation of highly successful technology companies and a leading provider of
payment solutions and transaction processing services. ZAZOO’s diverse product offering is
consolidated into five primary business lines, namely: Mobile Banking, MNO Solutions, Third
Party Payments, Cryptography, and Chip.
About Net 1 UEPS Technologies, Inc.
www.net1.com
Net1 is a leading provider of alternative payment systems that leverage its Universal Electronic
Payment System (“UEPS”), to facilitate biometrically secure, real-time electronic transaction
processing to unbanked and under-banked populations of developing economies around the world
in an online or offline environment. Net1's UEPS/EMV solution is interoperable with global EMV
standards that seamlessly permit access to all the UEPS functionality in a traditional EMV
environment. In addition to payments, UEPS can be used for banking, healthcare management,
payroll, remittances, voting and identification.
Net1 operates market-leading payment processors in South Africa and the Republic of Korea. In
addition, Net1's proprietary MVC technology offers secure mobile payments and banking services
in developed and emerging countries.
Net1 has a primary listing on Nasdaq and a secondary listing on the Johannesburg Stock Exchange.
Contact Details:
ZAZOO
Philip Belamant
Managing Director
Tel: +44 77 88 715 999
Email: philipb@zazooltd.com
Net1 UEPS Technologies, Inc.
Dhruv Chopra
Investor Relations
Tel: +1 917 767 6722
Email: dchopra@net1.com
Keri Krug Public Relations & Communications
Keri Krug
Mobile: +27 83 344 6855
Email: keri.krug@gmail.com
February 5, 2015
Sponsor:
Deutsche Securities (SA) Proprietary Limited
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