| Wed 3 Jun 2009, 14:01 | | NT1 - Net 1 UEPS Technologies Inc. - Net1 appoints Dhruv Chopra as Vice- |
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NT1
NT1
NT1 - Net 1 UEPS Technologies, Inc. - Net1 appoints Dhruv Chopra as Vice-
President - Investor Relations
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 appoints Dhruv Chopra as Vice-President - Investor Relations
Johannesburg, June 3, 2009 - Net 1 UEPS Technologies, Inc. ("Net1" or the
"Company") (NasdaqGS: UEPS; JSE: NT1) today announced the appointment of Mr.
Dhruv Chopra as Vice-President--Investor Relations. He will join the Company
today and will be based in New York City.
Mr. Chopra, 34 years old, has spent the past five years as a research analyst at
Morgan Stanley covering the IT Services industry. Prior to that, he spent four
years at various investment management firms including Citigroup Asset
Management. He started his career as a management consultant focused on the
financial services industry.
Mr. Chopra holds a Masters in Business Administration, specializing in Finance,
from the Columbia Business School in New York, a Masters in Economics from Tufts
University in Medford, MA, and a Bachelor of Arts in Economics from St. Xavier`s
College, Mumbai, India.
Mr. Chopra is contactable by telephone at 1-212-626-6675 and his e-mail address
is dchopra@net1ueps.co.za.
About Net1 (www.net1ueps.com)
Net1 provides its universal electronic payment system, or UEPS, as an
alternative payment system for the unbanked and under-banked populations of
developing economies. The Company believes that it is the first company
worldwide to implement a system that can enable the estimated four billion
people who generally have limited or no access to a bank account to enter
affordably into electronic transactions with each other, government agencies,
employers, merchants and other financial service providers. To accomplish this,
the Company has developed and deployed the UEPS. This system uses secure smart
cards that operate in real-time but offline, unlike traditional payment systems
offered by major banking institutions that require immediate access through a
communications network to a centralized computer. This offline capability means
that users of Net1`s system can enter into transactions at any time with other
cardholders in even the most remote areas so long as a portable offline smart
card reader is available. In addition to payments and purchases, Net1`s system
can be used for banking, health care management, international money transfers,
voting and identification.
The Company also focuses on the development and provision of secure transaction
technology, solutions and services. The Company`s core competencies around
secure online transaction processing, cryptography and integrated circuit card
(chip/smart card) technologies are principally applied to electronic commerce
transactions in the telecommunications, banking, retail, petroleum and utilities
market sectors. These technologies form the cornerstones of the "trusted
transactions" environment of Prism, a South Africa-based subsidiary of the
Company, and provide the Company with the building blocks for developing secure
end-to-end payment solutions.
In late August 2008, Net1 acquired 80.1% of BGS Smartcard System AG ("BGS"), an
Austrian company, whose core business consists of developing and integrating
smart card-based offline and online financial transaction systems. Since 1993,
BGS has implemented tailor-made smart card-based payment solutions, focusing on
emerging economies and in cooperation with banks, enterprises and government
authorities. BGS is headquartered in Vienna, Austria, and has subsidiaries in
India and Russia, and a branch office in the Ukraine. Distributors are located
in Asia, Central and South America, the Commonwealth of Independent States and
the Middle East.
Contact Dhruv Chopra at:
Telephone: 1-212-626-6675
e-mail: dchopra@net1ueps.co.za
And
Contact William Espley at Net1 Investor Relations at:
Telephone: 1-604-484-8750
Toll Free: 1-866-412-NET1 (6381)
Johannesburg
3 June 2009
Sponsor to Net1
Deutsche Securities (SA) (Proprietary) Limited
Date: 03/06/2009 14:01:01 Produced by the JSE SENS Department.
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