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Bitstamp Partners with Net1’s Masterpayment for Cryptocurrency Purchases
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”)
Bitstamp Partners with Net1’s Masterpayment for Cryptocurrency Purchases
Johannesburg, November 23, 2017 – Net1 (NasdaqGS: UEPS; JSE NT1) today announced
that its wholly owned subsidiary, Masterpayment, an independent Payment Processor
specializing in the requirements of the new cryptocurrency markets, has been appointed as
a new partner for credit card processing and acquiring for cryptocurrency purchases for
Bitstamp, a leading global digital currency exchange and the largest Bitcoin exchange in
the EU in terms of volume. This partnership will allow Bitstamp customers to enjoy faster
and more convenient transactions, while maintaining the same high-caliber security.
Masterpayment merges the core capabilities of an acquirer with those of a payment service
provider and adds the regulatory framework of a renowned bank, which provides added
value as for an example, the payout in 14 settlement currencies, as well as corporate
accounts via the in-house acquiring bank. Bitstamp customers can still spend USD or EUR
using Visa, Mastercard credit or debit cards to purchase bitcoin, litecoin, ethereum and
ripple. The daily buying limit of 5000 USD/EUR and monthly buying limit of 20,000
USD/EUR remain the same, with transaction fees decreasing to 5 percent.
“Here at Bitstamp, we’ve always sought to make access to digital currencies as safe, simple
and secure as possible,” said Miha Grcar, Head of Business Development at Bitstamp.
“That’s why we are excited about our partnership with Masterpayment, which is ideally
positioned to help us follow through on these goals.”
Bitstamp sets aggressive goals for customer satisfaction in the rapidly evolving
cryptocurrency environment. In just the past four months, Bitstamp announced the launch
of ether on its trading platform, a partnership with Swissquote to offer bitcoin trading on
the online bank’s platform, and making newly generated bitcoin addresses at Bitstamp
Segwit compatible. Partnerships with providers like Masterpayment allow Bitstamp to
continue to meet the demands of a growing customer base as the industry becomes more
mainstream.
“We are proud to be working with Bitstamp to lay the foundation for a long-term
partnership in the field of cryptocurrencies. The demand of users for flexible payment
methods is increasing and we look forward to being able to provide that,” said Christian
Mangold, Managing Director at Masterpayment.
Bitstamp customers will experience smoother and faster purchases as well as enhanced
security. Standardized security procedures such as 3D Secure, as well as special fraud-
prevention mechanisms between the payment gateway and Bitstamp based on bilaterally
accepted parameters, ensure a permanent fine-tuning of the risk system and monitoring of
transactions.
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.
Net1 has a primary listing on the NASDAQ and a secondary listing on the Johannesburg
Stock Exchange.
About Bitstamp
Founded in 2011, Luxembourg-based Bitstamp is a leading global digital currency
exchange and the largest Bitcoin exchange in the EU in terms of volume. Bitstamp’s
objective is to continue to be an easy-to-use and reliable one-stop shop for cryptocurrency
trading in a fully compliant and regulated environment. Currently offering trading between
BTC, XRP, LTC, ETH, USD and EUR, Bitstamp was the first bitcoin exchange to
implement hot/cold storage and the high-security multi-sig wallet. As the longest standing
digital currency exchange in Europe, Bitstamp is uniquely positioned to bridge the gap
between the traditional financial and digital currency worlds. Safe, simple and secure to
use, Bitstamp provides its individual and institutional clients with an intuitive and engaging
environment for trading and custodial services. www.bitstamp.net
About Masterpayment (www.masterpayment.com)
Masterpayment combines the core capabilities of an acquirer with those of a payment
service provider and adds the regulatory framework of a renowned bank into the service
portfolio at leading edge prices. As first mover, Masterpayment, has specialized in the
white label acquiring and payment processing requirements for all kind of MCC´s like
Cryptocurrencies, Wallets, Digital Entertainment, Gambling, etc. Masterpayment supports
the merchant and provides added value, as an example, the payout in 14 settlement
currencies, as well as corporate accounts, via the in-house acquiring bank. Masterpayment
was founded in 2010 and has subsidiaries in Germany, the UK, Liechtenstein and Malta.
Forward-Looking Statements
This press release contains forward-looking statements that involve substantial risks and
uncertainties. All statements, other than statements of historical fact, included in this press
release regarding strategy, future operations, future financial position, future revenues,
projected costs, prospects, plans and objectives of management are forward-looking
statements. The Company may not actually achieve the plans, intentions or expectations
disclosed in its forward-looking statements. Actual results or events could differ materially
from the plans, intentions and expectations disclosed in the forward-looking statements
that the Company makes. Factors that might cause such differences include, but are not
limited to failure by the Company to realize the anticipated benefits from these
arrangements; and other factors, many of which are beyond the Company's control; and
other important factors included in the Company's reports filed with the Securities and
Exchange Commission, particularly in the "Risk Factors" section of the Company's Annual
Report on Form 10-K for the fiscal year ended June 30, 2017, as such Risk Factors may be
updated from time to time in subsequent reports. The Company does not assume any
obligation to update any forward-looking statements, whether as a result of new
information, future events or otherwise.
Investor Relations Contact:
Dhruv Chopra
Head of Investor Relations
Phone: +1-917-767-6722
Email: dchopra@net1.com
Media Relations Contact
Bridget von Holdt
Business Director – Burson-Marstellar South Africa
Phone: +27-82-610-0650
Email: bridget.vonholdt@bm-africa.com
Johannesburg
November 23, 2017
Sponsor:
Rand Merchant Bank, a division of FirstRand Bank Limited
Date: 23/11/2017 08:06:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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