IRVINE, Calif., March 4, 2014 /PRNewswire/ -- Pay in Private
today announced the launch of www.payinprivate.com Virtual Prepaid
MasterCard®, a new way to pay online using a one-time use Mobile
Virtual Card generated from a smart phone app. The Pay in
Private technological solution is provided by Net 1 UEPS
Technologies Inc. (NASDAQ:UEPS, JSE: NT1).
A September 5, 2013 report from
the Pew Research Center found that 86% of Internet users have taken
steps to increase their privacy as a result of ongoing compromises
related to their personal and financial information. Pay in Private
provides a secure payment solution that is as anonymous as paying
with cash. Pay in Private is a free Android and iPhone app that
eliminates the need for a plastic card and is always available
whenever you have your phone, even if you are not connected to your
mobile network.
Since it is prepaid, there is no credit card bill to pay at the
end of the month, no late fees, and can be used wherever Debit
MasterCard is accepted! Deposits are FDIC insured up to
$250,000 through The Bancorp Bank;
Member FDIC.
"With both credit and debit card fraud on the rise, this timely
initiative not only demonstrates our ability to create secure
technological solutions that are interoperable with existing
worldwide payment networks, but also offer consumers a tool that
ensures privacy and security whenever spending online! The
simplicity of our Mobile Virtual Card is only matched by the
strength of the security and functionality it provides, and the
fact that it operates off-line guarantees that the customer
experience will always be of the highest possible standard. The
introduction of Pay in Private marks the first step of Net1's
renewed focus on introducing our Mobile Virtual Card technology
across multiple geographies," said Philip Belamant, Chief Executive
Officer of Net1 Mobile Solutions.
"Online customers are increasingly demanding higher levels of
privacy and security to purchase online," said Jerry M. Klein, Pay in Private's Chief Executive
Officer. "We are excited to partner with Net1 and to leverage their
extensive expertise in alternative payments and security, by
introducing Pay in Private, an innovative solution catered
specifically to online customer's needs. The patented process does
not disclose any personal financial information, and provides
increased privacy, protection from identity theft, as well as an
online payment option for those who do not have access to a
physical plastic card," he added.
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.
Net1's UEPS/EMV solution is also completely interoperable with
global EMV standards that seamlessly permit access to all the UEPS
functionality in a traditional EMV 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, and
Ghana. In addition, Net1's
proprietary Mobile Virtual Card technology offers secure mobile
payments and banking services in developed and emerging countries
while it's MediKredit and XeoHealth subsidiaries provide its
proprietary 5010 and ICD-10 compliant real-time claims adjudication
system.
Net1 has a primary listing on the Nasdaq and a secondary listing
on the JSE Limited.
About Pay in Private
(www.payinprivate.com)
Pay in Private (Irvine, CA.)
has roots in direct marketing, transaction processing, online
financial services and bringing new technology to market. The team
has launched several online financial services and Jerry M. Klein, the CEO was one of the first
licensees of Children's Television Workshop and developed a Sesame
Street Big Bird Book Club. He also assisted MCI in the launch of
MCI Mail, one of the first email services. Additionally he was
CEO/founder of PhoneBase, the first IVR service bureau and Private
Date Finder, one of the first online dating sites.
Investor Relations Contact:
Pay in Private Contact:
Jerry M. Klein
President / CEO
+1-855-663-7748
jerry@payinprivate.com
Net 1 UEPS Technologies Inc.:
Dhruv Chopra
Managing Director
+1-917-767-6722
dchopra@net1.com
SOURCE Pay in Private