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NET 1 UEPS TECHNOLOGIES INC - Zazoo increases its global footprint through partnership with India's Oxigen

Release Date: 13/01/2016 13:00
Code(s): NT1     PDF:  
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Zazoo increases its global footprint through partnership with India's Oxigen

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 INCREASES ITS GLOBAL FOOTPRINT THROUGH PARTNERSHIP
WITH INDIA’S OXIGEN

ZAZOO’s MVC technology powers Visa Prepaid offering with Oxigen Wallet in India

Johannesburg, January 13, 2016; ZAZOO, a business unit of Net 1 UEPS Technologies Inc.
(Nasdaq: UEPS; JSE: NT1) has partnered with Oxigen Services India Pvt. Ltd (“Oxigen”) to
seamlessly integrate its Mobile Virtual Card (“MVC”) technology to power Visa Prepaid into
Oxigen Wallet in association with RBL Bank as sponsor bank and co-branding partner.
Since its launch in January 2015, ZAZOO’s patented MVC technology has already enabled
mobile payment solutions for the likes of Uber South Africa, Microsoft, Funifi in the UK and
BitX.
Oxigen is one of India's largest and most established payment solutions providers and is
regarded as an industry leader in recharges, money transfers, bill payments, social media and
various other payments. The company provides an easy to use, turnkey solution for its
customers and is at the forefront of India's drive to migrate to electronic transactions.

“Oxigen is a leader in promoting financial inclusion for the masses of India, and our
technology will enable them to penetrate the market further by providing interoperability to
their current semi-closed loop wallet,” says Philip Belamant, Managing Director of ZAZOO.
“For the first time ever, Oxigen users will be able to transact anywhere Visa is accepted.
These spending locations include social networks and merchants like Amazon, FlipKart,
Snapdeal and Zomato. We are thrilled to partner with Oxigen as we continue to grow our
global footprint and we are confident that the power of our technology will assist in increasing
Oxigen’s user adoption in India,” concluded Belamant.
“Introducing the Oxigen Wallet to India is in line with our strategy of extending financial
inclusion,” says Ankur Saxena, Director & Chief Mentor of Oxigen Wallet. “The
collaboration between Oxigen, ZAZOO and Visa has made it possible for us to give
potentially one billion mobile customers in India access to instant electronic payments
online/onmobile, through the Oxigen Wallet mobile app.”

The Oxigen Wallet will use ZAZOO’s MVC technology to power the Visa Prepaid card
securely and off-line for card-not-present transactions, such as e-commerce or m-commerce
purchases. The MVC technology runs as an application on any mobile phone, transforming it
into a cashless, secure and convenient electronic payment device that eliminates the risks of
theft, phishing, skimming, spoofing and other fraudulent activities.

“Oxigen has always been a frontrunner in all its business verticals and we are continuously
striving to add further value to our expanding product proposition. This is for the first time
ever in India that a mobile wallet user, banked or unbanked, will be able to make transactions
on all ecommerce/payment sites where Visa is accepted. Our association with ZAZOO and
Visa helps us attain another milestone as India’s leading digital payments solution provider by
giving our customers another secure means of making payments”, adds Pramod Saxena,
Chairman and Managing Director of Oxigen Services India.

Mr. TR Ramachandran, Group Country Manager, India and South Asia, Visa said, “The Visa
Prepaid offering reaffirms our vision to be the best way to pay and be paid, for everyone,
everywhere. Visa is committed to delivering benefits of digital payments to newer segments of
customers and this is a great example where Oxigen Wallet customers will now have access to
the extensive network of eCommerce merchants who accept Visa.”

Oxigen Wallet customers will be able to use the application to make any purchases or bill
payments at online merchants, or send virtual gift cards to friends and family. To launch MVC
with Oxigen, ZAZOO has also partnered with TranServ Private Limited, with whom ZAZOO
has a strong and growing relationship.

Secular trends strongly support robust growth in India's mobile commerce industry.
Accordingly to TRACXN!, digital transactions are expected to account for 27% of total
transactions by 2020. Smartphone adoption is rapidly increasing, which in turn drives internet
usage as more than 60% of India's roughly 350 million internet users access the web from
their phone, according to IAMAI. It is estimated that it took over a decade for India's internet
user base to grow from 10 million to 100 million, three years to cross 200 million, and last
year alone reached 300 million. Similarly, a Goldman Sachs report states that Indians spend
approximately $20 billion annually online which is expected to grow 15-fold to $300 billion
by 2030.

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. ZAZOO is expanding its global
footprint and now has offices in Cape Town, Durban, Johannesburg, London and Mumbai.

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 Oxigen Services (www.myoxigen.com)

Oxigen Services India Pvt. Ltd., powered by 11 years of service excellence in the digital
business of micro payments of services and remittances in a ‘real time’ environment is India's
Largest Payments Solutions Provider. Its business involves service aggregation and
distribution, utilizing mobile, PoS and web for online payment processing and money transfer
services. It is built to service the nation's Telecom/DTH Operators, multiple Services
Providers and Banks, pan India.

Oxigen has a retail footprint of 200,000 outlets and has processed over 2 billion transactions
till date with a current transaction volume rate of 600 million transactions per annum. It has a
large customer base of over 150 million. A large bouquet of services is integrated into a single
transaction & payment processing platform, including Prepaid, Postpaid & Subscription based
services like Mobile Money Transfer, Recharges, Bill Payments, Ticketing and Subscriptions
for all leading service providers across a wide spectrum of industries, like, Telecom, Direct-to-
home TV, Internet Broadband, Travel, Cinema/Movie Tickets, Utility Bill Payments, Gaming,
Music & Movie downloads & more.

About Oxigen Wallet (www.oxigenwallet.com)

Oxigen Wallet with 13 million registered wallet users is powered by Oxigen Services Pvt Ltd,
India's largest payment service provider, is available through the website
(www.oxigenwallet.com). The Oxigen Wallet app can also be downloaded from the Android
Play store, iTunes or Windows App Store.

Oxigen’s Mobile Wallet i.e “Oxigen Wallet” is India’s First Non-Bank Mobile Wallet,
approved by RBI, enabled to make Instant Money Transfers, to nearly 100+ banks using
NPCI’s Immediate Payment Service (IMPS). It also works on Financial Inclusion and is a
Business Correspondent to India’s premier banks like SBI and RBL Bank. Oxigen’s PoS
(Point of Sale Terminal) and the biometric scanner have excelled in providing services like
eKYC and Money Transfer in urban and rural India.

About Visa

Visa Inc. is a global payments technology company that connects consumers, businesses,
financial institutions, and governments in more than 200 countries and territories to fast,
secure and reliable electronic payments. We operate one of the world's most advanced
processing networks — VisaNet — that is capable of handling more than 65,000 transaction
messages a second, with fraud protection for consumers and assured payment for merchants.
Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers.
Visa's innovations, however, enable its financial institution customers to offer consumers more
choices: pay now with debit, pay ahead of time with prepaid or pay later with credit products.
For more information, visit usa.visa.com/about-visa, visacorporate.tumblr.com and
@VisaNews.

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

Dhruv Chopra
Managing Director of ZAZOO India, and Head of Investor Relations for Net1
Phone: +91-99304-65688/+1-917-767-6722
Email: dchopra@net1.com

Johannesburg
January 13, 2016

Sponsor:
Deutsche Securities (SA) Proprietary Limited

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