Net 1 UEPS Technologies Inc.
NASDAQ : UEPS
JSE : NT1

Net 1 UEPS Technologies Inc.

September 29, 2014 10:38 ET

Net1 Mobile Solutions and FIHRST Deliver the Future to HR and Payroll Administrators

JOHANNESBURG, SOUTH AFRICA--(Marketwired - Sept. 29, 2014) - South African-based Net1 Mobile Solutions ("N1MS"), a business unit of Net1 UEPS Technologies Inc. (NASDAQ:UEPS)(JSE:NT1) and its Third Party Payment business FIHRST, have announced several innovations in its human resources and payroll processing products and services.

The newly enhanced PayPlus is a ground-breaking service that allows employees to buy prepaid airtime, electricity and more at any time and from anywhere using their mobile phone. Built on Advance Value Service ("AVS") technology, this enhanced version of PayPlus is the future of mobility within the payroll environment and works via USSD, which means every employee can access the services from any mobile phone. Available 24 hours a day, 7 days a week, it offers all workers, especially those in rural areas or who work late shifts, an immediately accessible and convenient solution to buy electricity, airtime and more.

FIHRST Connect, the system trusted to process over R75 billion in payments annually, is being upgraded to a Cloud-based solution, WebConnect, that will give access to all of the existing Connect functionality from anywhere, at any time. WebConnect enhances a payroll officer's role by providing access to payroll data irrespective of their location or time of day. This reduces the need for time spent at the payroll officer's desk on tedious tasks and makes the month-end process easier, simpler and faster.

FIHRST has been successfully processing garnishee orders on behalf of its clients for more than a decade. As part of its continued effort to enhance the payroll environment, it has partnered with legal firm Smit, Jones & Pratt ("SJP"), who will add a deeper level of legal participation to all garnishee orders.

"This partnership with FIHRST will ensure that any garnishee order is checked prior to implementation, and this then ensures that same is being paid correctly, and that the process is not being abused by external collectors or other attorneys," says Kim Vermeulen, Senior Partner at SJP.

With 15 years of experience in the payroll industry, FIHRST understands its client's operations, responsibilities and the need for products and services that enhance their payroll function. FIHRST is entrusted to handle over R6.3 billion in salary and wage payments each month, and clients expect it to provide a flawless service to their more than 600,000 employees.

"Webconnect, PayPlus and other mobile technologies are opening a world of innovation to HR professionals, enhancing the way payroll officers manage their day to day tasks," says Philip Belamant, Managing Director of N1MS. "We envision a future for payroll in which employers are able to use mobile wallets to pay wages, whilst providing remotely accessible mobile platforms for employees to take an advance on their salaries or to purchase goods and services, such as prepaid airtime or electricity, either with money they already possess, or against future earnings if they are faced with an emergency."

"N1MS and FIHRST are committed to harnessing the excitement and innovation of the mobile revolution and creating simple, practical solutions to everyday challenges for consumers and for employers," adds Belamant.

Customer Testimonials:

FIHRST introduced these innovations and updates to its clients at a recent customer event in Johannesburg, where the following feedback was provided:

Hein Smith, Payroll Manager of PricewaterhouseCoopers, says that the firm has used FIHRST payroll services since 2003 because it offers stability, has the best credentials in the field, and its core values complement those of his firm. "FIHRST is a business partner for us, we have so much more than a relationship with a service provider with this team," he says.

Silvia Mhlongo is the Wages Payroll Manger of Scaw Metals, and runs nine payrolls, adding that using Nettpays from FIHRST, means that it takes her one day to upload and reconcile payments - instead of the nine days it used to. "Our partnership with FIHRST is brilliant," she says. "If I've got a problem with anything they're always there to help."

Jaco van der Westhuizen, Group Remuneration and Benefits Manager at Stefanutti Stocks says that the company reduced its payroll systems costs by half when it moved to FIHRST. "We're paying our people correctly, we're paying them on time, and we've done so for the last nine years that we've been working with FIHRST," he says.

Suzanne Love, Director of Suburban Services, has been using FIHRST payroll products for 11 years. "FIHRST takes all your payroll worries away, and I would recommend their systems to anybody," she says.

For more information about FIHRST, its products, and testimonials from clients, visit www.powerinpartnership.co.za.

Notes to Editors

About Net1 Mobile Solutions (www.net1mobile.com)

Net1 Mobile Solutions is a South African-based technology entity encompassing a combination of world class solutions tailored to the specifically identified needs of the global market. Its diverse product offering is consolidated into five primary business lines: Mobile Banking, MNO Solutions and Prepaid Vending, Third Party Payments, Smart Card Technologies and Cryptography.

About FIHRST (www.fihrst.com)

Founded in 1999, FIHRST is the leading provider of integrated payroll data and release payments in the industry. FIHRST delivers a fresh and innovative approach to all employers addressing efficiencies, productivity and costs associated with data reconciliation and payments at month end. FIHRST is the Third Party Payments business of Net1 Mobile Solutions.

About Net1 (www.net1.com)

Net1 is a leading provider of alternative payment systems that leverage its Universal Electronic Payment System ("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. Net1's UEPS/EMV solution is interoperable with global EMV standards that seamlessly permit access to all the UEPS functionality in a traditional EMV 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 and the Republic of Korea. In addition, Net1's proprietary MVC technology offers secure mobile payments and banking services in developed and emerging countries. Net1 has a primary listing on NASDAQ and a secondary listing on the Johannesburg Stock Exchange.

Contact Information

  • Net1 Mobile Solutions
    Philip Belamant
    Managing Director
    +27 11 463 7233
    philipb@net1.com

    Tribeca Public Relations
    Keri Krug
    Senior Account Director
    +27 208 5530 or +27 83 344 6855
    kerik@tribecapr.co.za