NET1 SHARE INFO
    • Nasdaq (UEPS) Price: $13.16
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    • Data Time : 09:02 EST
    • Data Date : 2017-02-27
    • JSE (NT1) Price: R173
    • Change : up 300
    • Volume : 4.87
    • Data Time : 15:42 CAT
    • Data Date : 2017-02-27
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Financial Institutions

Net1 supplies turnkey banking solutions into a number of African countries. The technological innovations made available by the U.E.P.S. solution enable conventional financial institutions operating in developing economies to provide better services and exceed the offerings of their competitors.

The U.E.P.S. can operate as a standalone system whereby financial institutions issue smart cards to clients as the actual bank account. The usual cardholder costs associated with opening and using a traditional bank account do not apply.

Net1's Virtual Teller Terminal (VTT) is an integral part of the Net1 turnkey solution and provides a reliable and problem free connection to an existing national network without hampering the day-to-day running of integrated financial institutions. Once the solution is integrated, financial institutions can issue U.E.P.S. smart cards without owning the infrastructure, modifying systems or experiencing tedious implementation and pilot phase rollouts. For cardholders that have existing conventional bank accounts with integrated financial institutions, this facility enables the transfer of funds to the smart card from their bank account using the U.E.P.S. POS/ATM infrastructure - and vice-versa.

Benefits to Merchants and Financial Service Providers: 

  • The system decreases the amount of cash that merchants must hold, improving security and reducing expenses.
  • Transaction records generated by the system provide useful administrative data. 
  • Financial Services provided through the POS infrastructure allow merchants to benefit from new income streams at no additional incremental cost. 
  • For formal financial service providers the use of smart cards provides opportunities to directly sell products and services to a market that was previously difficult to reach. For instance, insurance companies can offer their products with the premium deducted directly from the individual's smart card. 
  • In the case of lending, administrative costs and the expense of holding cash are decreased. Again, the collection of payments can occur directly from the smart card, reducing credit risk and helping to establish credit history.

Net1 has its roots in banking transaction handling with many of its key people having played an integral role in the development and operation of Southern Africa's earliest electronic bankingand electronic payment transaction networks. Amongst them, Mr. Serge Belamant, our Chairman and CEO who was responsible for the design, development and implementation of Saswitch in SA, a system that today rates as the third largest ATM switching network in the world.

Added to this, Net1 has extensive financial cryptography expertise and experience and a proven and recognized end-to-end transaction security range. These credentials, capabilities and products enable the company to supply its banking clients with highly-secure and cost-effective multi-channel transaction solutions.

Net1's banking technologies and services cater for the many business drivers affecting the industry today including EMV, the push towards standardized enterprise-wide customer authentication, and consumer demand for greater electronic connectivity to the full suite of banking products and services.

The EasyPay infrastructure connects into all major South African banks for the processing of Electronic Funds Transfer (EFT). In addition, EasyPay offers 24 x 7 hosting services for third party financial payment servers and applications.

Our U.E.P.S. Technology Offering Incorporates:  

Our Services include:   

  • Transaction Management Services
  • Electronic Funds Transfer (EFT): EasyPay switches credit, debit and fleet card EFT transactions for leading South African retailers and petroleum companies.
  • Hosting: EasyPay hosts payment servers and applications on behalf of third parties including financial institutions.
  • Settlement & Reconciliation: EasyPay provides a complete reconciliation and settlement service to its business partners, including dynamic reconciliation, report and screen-query tools for down-to-store-level management and control purposes.
  • Third Party Switching & Processing Support: EasyPay switches transactions from retail POS systems to the relevant back-end systems for Third Parties.
  • Prepaid Electricity: Enables the vending of prepaid electricity utilities such as Eskom and a growing number of local authorities on a national basis.
  • Bill Payment: EasyPay's consumer bill payment service introduced at retail POS over 13 years ago is integrated into a large number of national retailers, mobile channels and is available on www.easypay.co.za.
  • Prepaid Airtime: EasyPAy vends airtime at retail POS for MTN, Vodacom, Cell C and Telkom.

Our Products include: 

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