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WorldRemit in partnership with Zazoo for instant money transfers to South Africa
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”)
WORLDREMIT IN PARTNERSHIP WITH ZAZOO FOR INSTANT MONEY
TRANSFERS TO SOUTH AFRICA
Global money transfer app now offers instant bank deposits in South Africa
Johannesburg, December 10, 2015: WorldRemit, the global money transfer app, is working
with ZAZOO, a business unit of Net1 (Nasdaq: UEPS; JSE: NT1) as its payment partner in
South Africa. This partnership will make it easier than ever before for South Africans to
receive international money transfers directly into their bank accounts, instantly.
WorldRemit’s online service lets people send money to friends and family using a
smartphone, tablet, or computer, anytime, anywhere. Headquartered in London, WorldRemit
is already available for people in 52 countries, sending to more than 125 destinations around
the world.
“For many South Africans, sending money home used to come at a substantial cost –
excessive fees, queuing in line at high-street transfer agents, and waiting for days for a transfer
to arrive,” says Richard Meseko, who is responsible for expanding WorldRemit’s business
across Africa and serves as the company’s Country Director in Canada. “WorldRemit was
built to modernise the payments industry and offer the best possible experience to anyone
sending money home. Today, WorldRemit’s partnership with ZAZOO means we can bring
instant, low-cost bank deposits to our service in South Africa.”
ZAZOO will enable WorldRemit to offer this service in South Africa by using technology
developed and customized by its Enterprise Payments business unit, FIHRST. As an
authorised systems operator and third party processor, FIHRST’s technology streamlines the
relationship between the payer and payee, and ensures data integrity using sophisticated
encryption routines with secure dedicated lines to South Africa’s major banks.
“At ZAZOO, we are always ready to engage with new partners who share our vision for using
technology to make payments quicker, safer and more accessible and reliable,” says Philip
Belamant, Managing Director of ZAZOO. “We rose to the challenge, adapting FIHRST's
technology to meet our client’s needs, in turn making it easier for WorldRemit’s customers to
receive money, that is often the lifeblood of families living far away from the main
breadwinner,” he concluded.
South Africans receive inbound remittances of more than USD 1 billion per year. According
to the Remittance Prices Worldwide report published by the World Bank, the average global
price of remittances is 7.68% of the transaction value, with Sub-Saharan Africa listed as the
most expensive region in the world at 9.74%. These numbers reiterate the opportunity that
exists in South Africa to attract customers through the introduction of highly efficient financial
technology, namely lowering cost and increasing accessibility.
In addition, unbanked recipients have the option of opening an EasyPay Everywhere account -
a pay per transaction low cost bank account recently launched by Net1. Furthermore, should a
recipient select to receive their funds into their EasyPay Everywhere account - ZAZOO will
enable that recipient to make use of its mobile virtual card technology to create a virtual
MasterCard to spend digitally for any online purchase in South Africa.
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.
About WorldRemit (www.worldremit.com)
WorldRemit is changing the way people send money.
- It’s easy – just open the app or visit the website – no more agents.
- Transfers to most countries are instant – send money like an instant message.
- More ways to receive (Mobile Money, bank transfer, cash pickup, and mobile airtime
top-up).
- Available in 52 countries and 125+ destinations.
- WorldRemit raised $140m from Accel Partners and TCV – early investors in
Facebook, Spotify and Netflix.
WorldRemit’s global headquarters are in London, UK with regional offices in USA, Canada,
Australia and New Zealand.
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.
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
Johannesburg
December 10, 2015
Sponsor:
Deutsche Securities (SA) Proprietary Limited
Date: 10/12/2015 03:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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