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Zazoo sponsors R1 million worth of VCPAY vouchers available to consumers choosing the new Microsoft Lumia 535
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”)
ZAZOO SPONSORS R1 MILLION WORTH OF VCPAYTM VOUCHERS AVAILABLE TO CONSUMERS
CHOOSING THE NEW MICROSOFT LUMIA 535 ON A CELL C CONTRACT
Johannesburg - Zazoo, a business unit of Net 1 UEPS Technologies, Inc. (Nasdaq: UEPS; JSE: NT1), today
announced that it has collaborated with Microsoft and Cell C to sponsor a R250 VCpayTM voucher to
consumers that purchase the new Microsoft Lumia 535 on a Cell C contract. The new device is available
on Cell C’s talk and data contracts from February 1, 2015, and an initial batch will be packaged with the
VCpayTM voucher for new owners to use in completing a purchase of their choice when using the
VCpayTM service.
VCpayTM is a mobile application developed around Net1’s patented Mobile Virtual Card (“MVC”)
technology which enables mobile devices to generate virtual MasterCards completely offline and
without access to a mobile phone network. Users activate VCpayTM by following a simple over-the-air
registration process and linking the application to any number of funding options: from credit cards, to
EFTs, to direct top-ups and more.
The application allows users to generate anonymous, unique virtual payment cards that can be used for
online purchases, or in brick-and-mortar retailers that accept manual Card Not Present (“CNP”)
payments. Users can also send the virtual card to friends or family far away via channels such as email,
SMS, MMS and WhatsApp, making it simpler than ever before to send money to third parties.
“The VCpayTM card generation process occurs offline and does not disclose any personal financial
information, therefore providing increased privacy and protection from identity theft, as well as an
online payment option for those who do not have access to a physical plastic card,” says Philip
Belamant, Managing Director of Zazoo. “A single-use MVC is created for a specific amount, making
online transacting even more secure. Once the MVC is used to make a purchase it expires and cannot be
used again.”
“Given the growth of e-commerce in South Africa, and the corresponding lack of secure payment
options, we believe the time is right for the VCpayTM offering and look forward to collaborating with Cell
C and Microsoft”, states Belamant.
“VCPayTM gives Cell C another opportunity to provide our customers with more value, and offer them a
safe, simple and effective answer to the challenges presented by carrying cash – or even carrying a
wallet that holds payment cards,” says Cell C Chief Commercial Officer, Ernst Fonternel. “We are
delighted to give Cell C customers taking out contracts with the Microsoft Lumia 535 the first
opportunity to enjoy the benefits of VCPayTM, as well as R250 to spend on an item of their choice, at an
online retailer of their choice.”
VCpayTM also enables customers to purchase apps from App stores directly and securely, adding
convenience, accessibility and ease of use to its list of salient features.
“The Microsoft Lumia 535 offers five great integrated Microsoft experiences, a wide-angle 5 megapixel
front facing camera, and a spacious 5 inch display all for an affordable price,” says Patrick Henchie, head
of product for Microsoft Mobile Device Sales, Sub-Saharan Africa. “The Lumia 535 helps people do more
of what they want, for less, and the additional benefit offered with the VCpayTM application means a lot
of added value for our customers.”
VCpayTM is the first of its kind in South Africa as it is truly interoperable and does not require merchants
to change the way in which payments are accepted online. It bridges the electronic payment
requirement gap, and gives the ability to anyone looking to make online payments an immediate, safe
and secure way to do so.
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. Net1 has launched Zazoo in the UK to target first world
and developing economies with its mobile centric solutions. The existing Net1 mobile business
development and technology teams will now report to the UK office which will take control over all
research and development, operations and marketing functions associated with Net1’s mobile activities
and related intellectual property. Zazoo’s management will focus on worldwide growth opportunities,
initially in the UK, Europe, USA and India, and as management bandwidth permits, address the large
markets present in the pacific region.
Zazoo’s diverse product offering is consolidated into five primary business lines, namely: Mobile
Banking, MNO Solutions, Third Party Payments, Cryptography, and Smart Card technologies.
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
Phone: +44 207 340 6300
Email: philipb@zazooltd.com
Net1 Investor Relations Contact:
Dhruv Chopra
Head of Investor Relations
Phone: +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
Johannesburg
February 17, 2015
Sponsor:
Deutsche Securities (SA) Proprietary Limited
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