JOHANNESBURG, April 20, 2011 /PRNewswire/ -- Net 1 UEPS
Technologies, Inc. (NASDAQ: UEPS; JSE: NT1) ("Net1") today
announced that the South African Social Security Agency ("SASSA")
has publicly issued an Invitation to Bid inviting service providers
to submit proposals for the provision of payment services for
social grants in any one or more of the nine provinces of
South Africa by the 27th May 2011. Net1 currently performs such
payment service in five of South
Africa's provinces and will participate in the bid
process.
There can be no assurance that the Invitation to Bid process
will be completed as per the announced timetable, or that Net1 will
be the successful bidder for any or all of the provinces to be
ultimately awarded by SASSA. Pursuant to the Invitation to Bid, no
information pertaining to the Invitation to Bid should be disclosed
to any third parties without the prior consent of SASSA and
therefore, Net1 expects that it will not be in a position to
provide further information about the Invitation to Bid or the bid
process unless and until SASSA makes a further announcement.
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.
SOURCE Net 1 UEPS Technologies, Inc.