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NET 1 UEPS TECHNOLOGIES INC - Zazoo's VCPAY wins at the 2015 Apps Africa Innovation Awards

Release Date: 18/11/2015 08:24
Code(s): NT1     PDF:  
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Zazoo's VCPAY wins at the 2015 Apps Africa Innovation Awards

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’S VCPAY WINS AT THE 2015 APPS AFRICA INNOVATION AWARDS

Johannesburg, November 18, 2015: VCpayTM, a mobile application by ZAZOO, a business
unit of Net1 (Nasdaq: UEPS; JSE: NT1) has won the ‘Best Fintech Innovation’ category at the
Appsafrica Innovation 2015 awards, winning the honours ahead of six other innovative
financial services applications. The category was judged by leading technology experts who
compared the various payment applictions entered into the competition.
The awards attracted over 200 entries from 21 countries, across three continents, and the
winners were announced at a ceremony in Cape Town last night. The ZAZOO team was
excited to receive the award from Chidi Okpala, Director and Head of Airtel Money Africa,
who was also a judge for the Fintech innovation category.

“We’re thrilled to win the ‘Best Fintech Innovation’ category, as we continue to pour a huge
amount of time and resources into our VCpay app,” says Philip Belamant, Managing Director
of ZAZOO. “Not only are we on the cutting edge of the disruptive payment technology space,
but more importantly, we ensure that our innovative solutions are relevant to our target
market, and address day-to-day pain points in consumers' lives. VCpay empowers both banked
and unbanked users to pay securely and interoperably for goods online, in store, in other
mobile applications, or on mobile services like Uber,” adds Belamant.

VCpay uses ZAZOO’s patented Mobile Virtual Card (“MVC”) technology, enabling mobile
devices to generate virtual MasterCard payment cards. Users can activate VCpay by following
a simple registration process and linking the application to any number of funding options,
such as credit cards, EFTs, direct top-ups, cash and more.

ZAZOO launched VCpay earlier in 2015 and has established several significant partnerships
in various territories, extending the security and convenience offered by the mobile card
technology to Microsoft, Uber, Funifi and BitX users.

The app, which is available in the iOS, Google Play and Windows Phone app stores, has seen
success since its inception with transaction volume increasing over 30% month-on-month,
while there has been 64% growth in registered users over the last three months, with an
average of five transactions per user on a monthly basis.

“We are honoured by the acknowledgment that this win brings, and excited by the clear
demand for secure and simple mobile payment solutions,” says Belamant. “We appreciate the
endorsement that the app has received from users and the industry after the significant in-
house research and development effort over the last few years,” he concluded.

About ZAZOO (www.zazooltd.com)
ZAZOO is an aggregation of innovative 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 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.

Forward Looking Statements

This announcement contains forward-looking statements that involve known and unknown
risks and uncertainties. A discussion of various factors that cause our actual results, levels of
activity, performance or achievements to differ materially from those expressed in such
forward-looking statements are included in our filings with the Securities and Exchange
Commission. We undertake no obligation to revise any of these statements to reflect future
events.

Contact Details:
ZAZOO
Philip Belamant
Managing Director
Phone: +44 207 340 6300
Email: philipb@zazooltd.com

Net1 Investor Relations
Dhruv Chopra
Head of IR
Phone: +1 917 767 6722
Email: dchopra@net1.com

Johannesburg
November 18, 2015

Sponsor:
Deutsche Securities (SA) Proprietary Limited

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