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Aplitec - Net 1 Applied Technology Holdings Limited
(Incorporated in South Africa)
Registration number 1997/007207/06
Share Code: APL
ISIN Code: ZAE000024113
APLITEC - "GREEN LIGHT" TO BANK THE SOCIAL WELFARE BENEFICIARIES IN KWAZULU
NATAL
Net1 Applied Technology Holdings Limited ("Aplitec") is pleased to announce the
breakthrough in its vision to provide smart banking for the one million social
welfare beneficiaries of the KwaZulu Natal province.
In line with the tender specifications and Aplitec"s tender response, these
beneficiaries have, to date, received government grants via their smart cards
from cash dispensers provided at all Aplitec"s mobile and fixed pay points in
urban and rural areas.
Banking of the beneficiaries was originally proposed in the Aplitec tender
response document which was accepted by the Provincial Tender Board in 1999.
Instructions have now been received from the Department of Social Welfare in
KwaZulu Natal for Aplitec to proceed with this implementation.
This positions KwaZulu Natal"s beneficiaries on the road to a smarter future as
they will now be able to utilise their smart cards as a fully operational bank
account protected by their biometric profile. No access can be gained to the
card unless one of the four fingerprints stored on the chip of the smart card is
matched against the finger print template presented at the POS terminal. In the
event that a card is lost or stolen, the card is `hot listed" and the balance,
once verified, will be loaded onto a replacement card. Beneficiaries will also
be able to purchase goods and perform cash withdrawals, in an offline
environment, from the merchants participating in the UEPS payment system.
Aplitec can now provide or facilitate financial services such as burial
insurance and loans at competitive rates and the system will also cater for
beneficiaries to save on the same multi-functional card. Aplitec"s system
provides for up to 255 wallets on the same card.
This breakthrough will give access to a myriad of services to the most
impoverished, at affordable prices resulting in the upliftment of their
lifestyles.
The project has commenced and Aplitec is currently in advanced negotiations with
merchants including Shield Wholesalers / Retailers, CBW Holdings (Pty) Ltd (Cash
& Carry) and Rhino Cash & Carry, who are willing to participate in this
initiative. The project will be implemented in phases throughout the province
and will involve extensive awareness training for the beneficiaries.
This new infrastructure, together with the existing mobile and fixed pay points
currently provided by Aplitec, will deliver greater convenience, security,
affordability and cost reduction for all stake holders.
The critical mass which will result from this initiative, will allow Aplitec and
its local partners to market its services to millions of `unbanked" and `under-
banked" citizens who are currently being paid in cash, or cannot afford the
costs associated with formalised bank accounts.
www.aplitec.co.za
Johannesburg
Sponsor
Merrill Lynch South Africa (Pty) Ltd
22 May 2003
Date: 22/05/2003 11:28:47 AM Supplied by www.sharenet.co.za
Produced by the JSE SENS Department
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