Net1 Announces Six Month Extension of SASSA Contract to March 2012
16 August 2011 - 3:05PM
Marketwired
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.
Contacts: Net 1 UEPS Technologies Inc. Dhruv Chopra Vice
President of Investor Relations +1-212-626-6675 dchopra@net1.com
www.net1.com
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