Net1 Receives Order to Provide Additional POS Equipment to Nedbank Limited
10 Januar 2006 - 5:09PM
Business Wire
Net 1 UEPS Technologies, Inc. (NASDAQ:UEPS) ("Net1" or "the
Company") announced today that it had received an order to provide
Nedbank Limited with an additional 10,500 Point-of-Sale ("POS")
terminals and 7,000 pin-pads. The POS terminals incorporate the
latest technologies such as GPRS ("General Packet Radio Service"),
Bluetooth and optical fingerprint readers. Net1 expects to generate
revenue of approximately $6.6 million (ZAR 40.9 million), at the
current exchange rate, from these transactions. Deliveries are
expected to commence at the end of Net1's third quarter of fiscal
2006 and are expected to be completed during Net1's second quarter
of fiscal 2007. 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 card holders 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. This announcement may contain forward-looking
statements pursuant to the "safe-harbor" provisions of the Private
Securities Litigation Reform Act of 1995. These forward looking
statements involve known and unknown risks, uncertainties and other
factors that may cause the company's actual results, levels of
activity, performance or achievements to be materially different
from any future results, levels of activity, performance or
achievements expressed, implied or inferred by these
forward-looking statements, such as product demand, market and
customer acceptance, the effect of economic conditions,
competition, pricing, development difficulties, foreign currency
risks, costs of capital, the ability to consummate and integrate
acquisitions, and other risks detailed in the Company's SEC
filings. The Company undertakes no obligation to revise any of
these statements to reflect future circumstances or the occurrence
of unanticipated events. -0- *T NET 1 U.E.P.S. TECHNOLOGIES, INC.
4th Floor, North Wing, President Place, Cnr, Jan Smuts Avenue and
Bolton Road Rosebank, Johannesburg, South Africa Tel:
011-27-11-343-2000 Fax: 011-27-11-880-7080 *T Net 1 UEPS
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