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NET 1 UEPS TECHNOLOGIES INC - Net1s Transact24 obtains Payment Intermediary Services Licences in Mauritius

Release Date: 26/05/2016 15:00
Code(s): NT1     PDF:  
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Net1’s Transact24 obtains Payment Intermediary Services Licences in Mauritius

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’s Transact24 obtains Payment Intermediary Services Licences in Mauritius

Johannesburg, May 26, 2016 – Net1 (NasdaqGS: UEPS; JSE: NT1) today announced
that its wholly-owned subsidiary, Transact24 (“T24”), has obtained Payment
Intermediary Services Licences from the Financial Services Commission Mauritius.

These licenses were granted to T24’s Mauritius-based subsidiaries. A Payment
Intermediary Services Licence allows a Payment Services Provider such as T24, to
participate in the growing e-commerce market by offering online merchants the
ability to accept various forms of electronic payments worldwide.

“Transact24 is committed to providing efficient payment solutions and is currently
pursuing various key projects and strategies internationally. These Payment
Intermediary Services Licences provide part of the necessary regulatory framework
required to pursue the product and geographic opportunities identified by T24 and
Net1,” said Philip Meyer, Managing Director of Transact24 Limited.

About T24 (www.transact24.com)

T24 is a Hong Kong-based Payment Services Company, established in 2006, with
offices and/or satellite entities in Australia, Singapore, China, Mauritius, South
Africa, Austria, Gibraltar, the USA and the UK. T24's payment services products
include Chinese Debit Card and Credit Card Acquiring; ACH processing; and Prepaid
Card Program Management. T24 owns the IP for all its processing technologies and
all its systems are PCI DSS Level 1 compliant.

About Net1 (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. Through Transact24, Net1 offers debit, credit and prepaid
processing and issuing services for Visa, MasterCard and ChinaUnionPay in China
and other territories across Asia-Pacific, Europe and Africa, and the United States.
Through Masterpayment, Net1 provides payment processing and enables working
capital financing in Europe.

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 may 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.

T24
Philip Meyer
Managing Director
Phone: +852 2851 0145
Email: philip.meyer@transact24.com

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

Johannesburg
May 26, 2016

Sponsor:
Deutsche Securities (SA) Proprietary Limited

Date: 26/05/2016 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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