| Tue 16 Aug 2011, 15:35 | | NT1 - Net 1 UEPS Technologies Inc. - Net1 announces six month extension |
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NT1
NT1
NT1 - Net 1 UEPS Technologies, Inc. - Net1 announces six month extension
of SASSA contract to March 2012
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 Announces Six Month Extension of SASSA Contract to March 2012
Johannesburg, South Africa, August 16, 2011 - Net 1 UEPS Technologies,
Inc. ("Net1" or the "Company") (NASDAQ: UEPS, JSE: NT1) today announced a
six month extension of its contract for the payment of social welfare
grants with the South African Social Security Agency ("SASSA"), on the
same terms and conditions as the existing agreement, which is scheduled
to expire on September 30, 2011.
SASSA has advised that the procurement process for the social grants
payment tender is still underway and has requested the extension of
Net1`s current contract to ensure continuity in service delivery.
About Net1 (www.net1.com)
Net1 is a leading provider of alternative payment systems that leverage
its Universal Electronic Payment System, or 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. 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, Republic
of Korea, Ghana and Iraq. In addition, Net1`s proprietary Mobile Virtual
Card technology offers secure mobile payments and banking services in
developed and emerging countries.
Net1 has a primary listing on the Nasdaq and a secondary listing on the
JSE Limited.
Investor Relations Contact:
Dhruv Chopra
Vice President of Investor Relations
Phone: +1-212-626-6675
Email: dchopra@net1.com
Johannesburg
16 August 2011
Sponsor to Net1
Deutsche Securities (SA) (Proprietary) Limited
Date: 16/08/2011 15:35:06 Produced by the JSE SENS Department.
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