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Net1 celebrates 600,000 EasyPay Everywhere accounts milestone
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” or the “Company”)
Net1 celebrates 600,000 EasyPay Everywhere accounts milestone
Johannesburg, December 3, 2015 – Net1 (NasdaqGS: UEPS; JSE: NT1) today announced that
600,000 EasyPay Everywhere (“EPE”) accounts have been opened since the launch of this
product in June 2015. This milestone demonstrates the exponential take-up rate of the EPE
product, as the Company reported 350,000 EPE accounts at the end of October 2015.
EPE is a fully transactional account created to serve the needs of South Africa’s unbanked and
under-banked population, and is available to all consumers regardless of their financial or
social status. The EPE account offers customers a comprehensive suite of financial and
various financial inclusion services such as prepaid products, in a cost-effective, convenient
and secure solution. EPE provides account holders with a UEPS-EMV debit MasterCard,
mobile and internet banking services, ATM and POS services, as well as loans, insurance and
other financial products and value-added services. EPE accounts attract no monthly account
fees, and account holders only pay basic pay-per-use fees whenever the account is used to
transact.
“We are very pleased with the positive market response to our EPE product,” said Dr. Serge
Belamant, Chairman and CEO of Net1. “The sustained growth of our EPE account base
demonstrates the high demand for a low cost, high-functionality account in our target market.
We are also excited about the continued strong demand for our value-added services such as
loans and pre-paid utilities, as well as the progress made with the roll-out of our insurance
products,” he concluded.
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”) or utilize its proprietary mobile technologies.
The Company operates market-leading payment processors in South Africa and the Republic
of Korea.
UEPS permits the Company 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 enable 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’s mobile technologies include its proprietary mobile payments solution - MVC, which
offers secure mobile-based payments, as well as mobile banking and prepaid value-added
services in developed and emerging countries. The Company intends to deploy its varied
mobile solutions through its ZAZOO business unit, which is an aggregation of innovative
technology companies and is based in the United Kingdom.
Net1 has a primary listing on the 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.
Investor Relations Contact:
Dhruv Chopra
Head of Investor Relations
Phone: +1-917-767-6722
Email: dchopra@net1.com
Johannesburg
December 4, 2015
Sponsor:
Deutsche Securities (SA) Proprietary Limited
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