Net1 expects negotiation of SASSA SLA to be concluded by
February 6, 2012
Johannesburg, South Africa, January 27, 2012 - Net 1 UEPS
Technologies, Inc. ("Net1") (NASDAQ: UEPS, JSE: NT1) today
announced that its wholly owned subsidiary, Cash Paymaster
Services ("CPS") has commenced negotiation of the service
level agreement with the South African Social Security Agency
in terms of the award of the national payment tender as
announced on January 17, 2012. The parties have agreed to
extend the final signature date of the SLA by one week from
January 31, 2012 to February 6, 2012.
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 while its 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.
Forward-Looking Statements
This announcement contains forward-looking statements that
involve known and unknown risks and uncertainties, including
the risk of our being able to successfully conclude a service
level agreement in a timely manner. A discussion of various
factors that cause our actual results, levels of activity,
performance or achievements to differ materially from those
expressed in such forward-looking statements are included in
our filings with the Securities and Exchange Commission. We
undertake no obligation to revise any of these statements to
reflect future events.
Investor Relations Contact:
Dhruv Chopra
Vice President of Investor Relations
Phone: +1-212-626-6675
Email: dchopra@net1.com
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Net1 Expects Negotiation of SASSA SLA to Be Concluded by February 6, 2012 |