Who is Net1?

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.

About Net1
Net1s Mission Statement

To provide a secure, universal and affordable transacting system for all, utilizing existing infrastructures that will enable the majority of people unqualified access to previously inaccessible goods and services, resulting in the upliftment of their lifestyles, whilst opening up new, low risk and profitable markets for the suppliers concerned.
Our strategic objectives are to: Position Net1 as a world leader in its field. Create a brand identified by developing economies as the worlds largest payment system focused on fulfilling the needs of individuals whilst inter-operating with existing First World offerings and infrastructures. Apply Net1s innovative technological ability in developing solutions for a variety of business requirements, ensuring that it remains a world leader in smart card related technologies. Provide a secure, universal and affordable Electronic Payment Transacting System enabling the circulation of electronic money and promoting a non-cash based economy. Provide a card payment system as an alternative to cash. Provide a payment system more cost effective and richer in innovation and functionality than any other system in existence today. Provide a system with a proven track record designed for transparency, interoperability and longevity. Establish partnership venture relationships with companies around the globe to deploy U.E.P.S. smart card applications that enable all citizens in each country to have access to Net1 products and financial services irrespective of where they reside.end reconciliation and settlement service to its business partners. This service includes dynamic reconciliation, report and screen-query tools for down-to-store-level management and control purposes.

Revenue Generation
Company revenues are generated through different operational models including: Locally installed and maintained systems; Outsourced technological platforms; Operating specific applications on behalf of customers. In all of these models, Net1 realizes revenues from numerous areas such as transaction fees, annual licenses, card fees, account management fees and technology transfers.

Net1s EFT Services Division

EasyPay (Pty) Ltd.

EasyPay, a wholly owned subsidiary of Net1, is the leading provider of electronic funds transfer (EFT) and bill payment processing services to South Africas retail and financial sectors. Controlling the largest bank-independent financial switch in Southern Africa, the companys infrastructure connects to all the major South African banks and switches both debit and credit card EFT transactions.

Market Opportunity

Individuals have no secure means of protecting their cash other than by converting it immediately into goods, carrying it with them or hiding it.

When individuals do have access to bank accounts, the typical deposit, withdrawal and account fees meaningfully reduce income available to meet basic needs. For government agencies and employers that use cash to pay welfare benefits and wages there is a significant expense incurred by the logistics of obtaining that cash, moving it to distribution points and protecting it from theft.

The Net1 Solution

Imagine a secure national payment system: With universal reach that represents a utility unhindered by formal telecommunications infrastructures. That manages the flow of funds between consumers, merchants and financial service providers. That uses cutting edge international technology, protected by global patents. Imagine convenient, secure cashless transactions: Requiring no online communication infrastructure or authorization procedures. Protected to eliminate unauthorized abuse. Incorporating a clear audit trail for tracking, reconciliation and loss tolerance. Representing the trading power of millions of consumers. Imagine the impact of endlessly versatile information management systems: Providing a powerful, seamless collection of critical trading data. Protected and managed by secure technology and easily interfaced with resident systems. With a user base of millions possessing massive and active spending power. The Features The U.E.P.S. technology includes functionality that allows the following: Biometric Identification Automatic Credit Automatic Debit Continuous Debit Transaction Cancellation Refunds Multiple Wallets Interest Calculations Offline Loading Transparent and Automatic Recovery Multiple Audit Trails Morphing Milking / Batching The Security The U.E.P.S. vs. its Competitors

The U.E.P.S. is distinguished from competitor solutions providing cash, check payments, credit and debit card transactions and other smart card based payment services, in the following ways:

Little or no technology, and specifically no security is required on the terminal itself thus reducing costs and allowing the effective proliferation of merchant service points. The terminal network can operate with or without the use of any communications infrastructure. The security encryption protocols enable cardholders to receive fund loading instructions from a third party through any insecure communication channel, such as word-of-mouth, telephonically, newspaper or any analogue or digital network.

Net1 U.E.P.S.

Its offline capability allows card holders to transact with other users at any time in even the remotest of areas where traditional payment systems offered by major banking institutions have limited penetration or are unavailable due to no, or limited branch, ATM, POS and communications infrastructure.
Key Features AFFORDABILITY: Most transaction costs are borne by organizations making use of the channel, also there are minimal monthly fixed fees payable by cardholders. SECURITY: The card serves as a substitute for cash, but provides for loss tolerance which protects the card holder in the event of lost or stolen cards. SIMPLICITY: A biometric fingerprint identification system is used by the cardholder to access the card and perform transactions. System Benefits Individuals: There is no minimum income requirement for individuals to use system smart cards - this makes the system universally accessible. It is relatively inexpensive since overall system costs are significantly less than other widely available solutions, including cash, bank accounts and bank cards using online access. The solution has the advantage of working everywhere, including remote areas where many un-banked and under-banked people live. The solution is secure and smart cards are replaceable. The collection of payments can occur directly from the smart card, helping individuals to establish a credit history. 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 individuals 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. Employers: The system enables employers to eliminate cash from the wage payment process. This reduces expenses by avoiding cash handling and management, the need to insure or transport that cash and the bank transaction fees associated with obtaining cash in the first place. Government Agencies: A fundamental policy goal for almost any government is to enhance the welfare of the poorest citizens in the country, yet the use of cash is a poor method for delivering social welfare grants. Cash is difficult to track and recipients are faced with various expenses and endure dangers that reduce the options available to them. U.E.P.S. assists government agencies by reducing the costs associated with the delivery of benefits by eliminating the use of cash and increasing available options.

Our Technology Salary & Wage Distribution Payments

The Net1 Salary and Wage application was designed in particular for the un-banked and under-banked market segments, but as the innovative products and services are being unveiled at affordable pricing, offering convenience and security, so is the interest and need arising from the banked sector.
Benefits to the Employer Reduced bank fees Reduced labor costs Increased employee productivity Benefits to the Employee Secure biometric fingerprint identification Reduced bank charges Accessible Money Transfers Accessible 3rd Party Account Payments Separate additional member wallet on the client smart card Interest-bearing Savings Wallets

U.E.P.S. Banking
The Net1 U.E.P.S. (Universal Electronic Payment System) has secured a foothold in a number of African countries by supplying turnkey banking solutions that are ideally suited for developed and developing economies. The U.E.P.S. system enables traditional financial institutions to surpass the offerings of competitors through the technological innovations available in the U.E.P.S. solution.
Option 1

The U.E.P.S. system can operate as a Stand-A-Lone system whereby financial institutions can issue smart cards to their clients as the physical Bank Account.
Option 2

This facility is offered whereby cardholders who already have an existing traditional bank account are able to transfer funds to their smart card from their bank account and vice-versa.
Benefits to Cardholder Offline spending No charges on spending Reduced fraud and theft Transact at any participating merchant Benefits to Merchant / Teller Increased client base Low transaction / administrative costs Limited telecommunications infrastructure required Reduced fraud and theft System security multiple audit trail

Third Party Host Deductions

Benefits to the Financial Services Provider Reduced administrative / operational costs Monthly premiums collected Benefits to the Cardholder Convenience of monthly payments deducted

Money Transfers
The U.E.P.S. offers the following Money Transfer options: WALLET2WALLET CARD2CARD CARD2PHONE

CARD2PERSON CARD2OTHER CARD2BANK BANK2CARD PHONE2PHONE PHONE2CARD PHONE2PERSON PHONE2OTHER PHONE2BANK BANK2PHONE

Social Grant Benefit Payments

The Net1 Social Grant Benefit Payments product was designed to enhance the participation of social grant beneficiaries in the economy of their countries. The system seeks to eliminate previous inefficiencies and improve the lifestyles of all its users. The system creates a secure and affordable transacting channel between formal businesses or Government and the un-banked and under-banked populations who have no or limited access to traditional banking facilities.
Benefits to Grant Beneficiaries: Convenience and security Reduced fraud and theft No need to stand in long queues at pay points Beneficiary can have access to selected U.E.P.S. products and services Reduction of transport costs Functionality to save and earn interest on card If the beneficiary loses their card, they do not lose their money

Pension Collection & Distribution

Net1 has designed a unique system of collecting pension contributions to alleviate nonpayment of pension contributions from employers to pension schemes, tracking and tracing of employers and employees and to include efficient record-keeping of Pension Collections. The Payment of Pensions to Employees/Government was designed to provide security in identifying the rightful pension contribution payment owner. This system will dramatically reduce the existing administration and operational costs involved in the collection of contributions, payment of pensions and reporting of all activities.
Benefits to Contributing Employees Convenience easy access to load pension payments Secure pension payments Spending and / or performing cash withdrawals at participating merchants Access to selected U.E.P.S. products and services Savings in separate wallet and earn interest on savings

Retail
The Net1 Retail application manages the flow of electronic funds between consumers, retailers, wholesalers and financial service providers. The solution offers merchants a cashless payment system, designed to meet their specific needs and the needs of their customers by offering security, affordability and accessibility. Many of these merchants operate in under-developed areas where traditional financial institutions and their products are unavailable or limited due to the lack of communications infrastructures.
Benefits to the Merchant Increased turnover from a growing smart card client base Reduced cash holdings

Reduced banking charges Reduced communication costs Reduced reconciliation problems Reduced fraud and theft New income streams Benefits to the Cardholder Security - biometric fingerprint identification If the card is lost, the funds are not lost Reduced bank charges Access to selected U.E.P.S. products and services Separate spouse wallet on the same smart card Ability to save and earn interest

Pre-paid Utilities
The Net1 Pre-paid Utilities allows for the transfer of prepaid units and information between facilities providers and their metering devices such as water and electricity meters. A Net1 smart card reader is attached to the pre-paid water and/or electricity meters installed into clients homes to allow them to manage and budget for the cost of these municipal services. Clients can load electronic pre-paid units in respect of water, electricity etc to a wallet on their U.E.P.S. smart card specifically reserved for pre-paid utilities.
Benefits Controlled expenditure Reduced fraud

Transaction Services
EasyPay (Pty) Ltd. - Net1s Transaction Services Division. EasyPay Clients

EasyPay's flexibility enables its unproblematic integration to various hardware platforms and pay-point applications within large retail groups, smaller stores and franchises.
These platforms include: Retail POS. EFT Terminals. Standalone PCs. Self Service terminals. Kiosks. ATMs. Mobile Handsets. The Internet. Establishments which currently make use of EasyPay services include: The largest retailers in South Africa, including Pick n Pay, Shoprite Checkers, Woolworths, Edcon and Massmart The largest banks in South Africa, including ABSA and First National Bank The largest telephony operators in South Africa, including Telkom, MTN, Vodacom and Cell C The largest petroleum companies in South Africa, including Caltex, Shell and Chevron Numerous local authorities and traffic departments The largest electricity supplier in South Africa, ESKOM The South African Broadcasting Corporation Various bill issuers from a variety of sectors such as insurance, medical aid, cosmetic sales, financial, legal, mail order and funeral homes are using EasyPay to handle their consumer payment requirements.

Bill Payments

The Bill Payment service allows consumers to pay a number of bills, including Municipal Rates, Water, Electricity, Telkom, SABC, Traffic Fines, Insurance and commercial accounts at pay-points across South Africa. Pay-points include national outlets such as Pick 'n Pay, ShopriteCheckers, Checkers Hyper, Lewis, EasyPay's Website and many more. Consumers can also pay bills via their mobile handset using an MTN Banking product called MobileMoney or the Wizzit Bank offering. The service supports the online, real-time validation of amounts to be paid including the expiry dates of certain account types, this is beneficial for the payment of traffic fines for which this level of data is highly relevant.

Gift Cards
EasyPay launched the Gift Card service for the Edcon Group in 2003 and for the Shoprite Checkers group in 2004.
Benefits for Retailers: The elimination of all losses due to fraud. Increased turnover. Enhanced customer loyalty. The support of innovative business partners. The Gift Card service provides: A progressive marketing, communications and strategy tool. Seamless deployment. Reliable service. Limited upfront costs.

Prepaid Airtime
This service enables the secure vending of prepaid cellular (MTN, Vodacom, Cell C) and prepaid Telkom vouchers at conveniently located retail outlets nationwide. Pick n Pay, Shoprite, Checkers, Checkers Hyper, Edcon Group, ATM Solutions and more.

Prepaid Electricity
EasyPay Prepaid Electricity enables the vending of prepaid electricity for electricity utilities such as Eskom and a growing number of local authorities on a national basis.

EasyPay Licenses
EasyPay enables the issue of new SABC TV licenses and the capture of existing license details in the retail environment and via a web-based user interface or POS integrated solution.

Industries Government & NGO's

Net1 assists government agencies in reducing the costs associated with the delivery of benefits by eliminating the use of cash and increasing their options.

Through use of the U.E.P.S. system, government agencies can deliver welfare benefits with increasing efficiency without a need for increased taxation. A full audit trail facility assists with combating corruption. The use of smart cards to deliver financial and Value Added Services, including insurance and burial cover products, allows regulatory bodies to expand transaction options to individuals who are frequently unable to protect themselves. By providing comprehensive inventory management during the distribution of medical benefits, the system can lead to significantly improved patient treatment. For example, an

artificial intelligence program deployed on the smart cards of HIV/AIDS patients in SA can be used to adjust patient prescriptions via data entered by trained medical workers on the POS devices. The system has the added benefit of bringing informal business into the formal economy. The registration of patients positively diagnosed with a disease/ illness using biometric identification in a real time, offline environment. A confidential and secure database storing the personal details, medical history and records of all patients. The facility to store up-to-date patient information on a patient smart card in a real time, offline environment. Dispensing relevant prescription medication to patients in line with details on the patient smart card. This confidential information can only be printed out after the successful biometric identification of the patient and healthcare worker. The guarantee that patient medication is accessible to each patient at any healthcare clinic participating in the system. The settlement of registration information, changes to patient information and the dispensing of drugs offline or online daily to the System Host for batch processing. Encrypted personal information is forwarded directly to a confidential server managed by government funding organizations.

Healthcare

Financial Institutions
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 individuals 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.

Retailers
Our Services include: Transaction Management Services Bill Payment: EasyPays 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. Gift Card: Supports the electronic generation, issuing and redemption of paper or cardbased gift vouchers. EasyPay Licenses: EasyPay enables the issue of new SABC TV licenses and the capture of existing license details within retail environments and via a web-based user interface or a POS integrated solution. Prepaid Electricity: Enables the vending of prepaid electricity for electricity utilities such as Eskom and a growing number of local authorities on a national basis. Prepaid Airtime: EasyPay vends airtime at retail POS for MTN, Vodacom, Cell C and Telkom. 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.

Virtual Top-Up
Prepaid VTU Key Benefits: The prepaid VTU solution facilitates vending directly from a standard GSM handset. Variable value can be vended down to the smallest practical denomination. Displaces physical vouchers in the airtime distribution chain. Lowest cost per transaction. The Prepaid VTU expansive business model minimizes Operator OPEX. Transposes physical retail Points-Of-Sale for mobile entrepreneurs. Convenience factor enhances the subscriber buying experience. Proven, secure and scalable technology. Incumbent STK/browser based technology translates to rapid time to market. Simple to use.

Key performance areas Solicit new clients for the sale of prepaid electricity and prepaid airtime, bill payments and other value added services Action new store sign-up which is put through process and managed until installed Assist merchants with day to day operational issues such as report issues,technical faults, financial report issues , stores not connecting etc Assist merchants by logging calls on helpdesk and manage until done completion Monitor and assign incidents and insure timeous response is given by constantly following up on relevant resources Attend weekly and monthly client meetings with the relevant customer relation managers Manage and monitor progress of projects by liasing with relevant project leaders, testing and signing oo the project. Constantly deal with escalations and resolve them with the relevant departments Assist CRMs with current processes/ current systems Constantly assist the technical departments of clients with terminal issues, area restrictions, server issues etc.. Retain existing clients by ensuring timeous responses by resolving any issues on prepaid electricity received via telephone, fax,email or helpdesk Assist merchants with payment queries, report issues, voucher issues, etc Create internal processes as standard processes that are cureently not in place Will be required to be the contact person for new business , curre t merchants in dedicated area , operations and customer care Have excellent verbal and written communication skills Have excellent customer care skills Be self driven and have high energy levels Be organised and assertive Be a logical thinker Be able to work independently under pressure and with high level of responsibility Be able to work overtime and weekends when required

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