Net1 is the leading provider of secure and affordable transaction channels between formal business and un-banked and under-banked individuals. Through the supply of chip card technologies and systems such as its Universal Electronic Payment System (U.E.P.S.), Net1 provides alternative payment solutions for populations in developing economies that have no or limited access to traditional banking facilities.
Net1's technology is widely used throughout South Africa today, with over 3.8 million clients in five provinces receiving social welfare grants on Net1 smart cards. Increasingly, these customers are using their smart cards at participating merchants to receive and spend their grants and perform a range of financial transactions.
Net1's technology incorporates software, smart cards, payment
terminals, back-end infrastructure and transaction security. These
technologies are coupled with years of experience in developing,
integrating and upgrading transaction systems.
The unique manner in which Net1 deploys its solutions for individuals and business is set to drive a fundamental change to the very manner in which transacting occurs. Through the patented U.E.P.S. technology and infrastructure deployed at the lower end of the market, coupled with the retail payment infrastructure already established at the high end of the market, a powerful impression on the business models and profitability at both spectrums of commercial retail business can be achieved.
Within industry, Net1's technologies are applied to electronic commerce transactions to provide solutions in the the fields of social grant benefit payments, salary & wage distribution, banking,medical & patient management, international money transfers, voting and identification systems. Market sectors include Government & NGOs, Healthcare, Telecoms, Financial, Institutions,Retailers, Petroleum and Utilities.