NET1 (NASDAQ:UEPS)

Net1 is a leading provider of alternative payment systems that leverage its Universal Electronic Payment System (“UEPS”) or utilize its proprietary mobile technologies. The Company operates market leading payment processors in South Africa and the  Republic of Korea. Through Transact24, Net1 offers debit, credit and prepaid processing and issuing services for Visa, MasterCard and ChinaUnionPay in China and other territories across Asia Pacific, Europe and Africa, and the United States. Through MASTERPAYMENT, Net1 provides payment processing and enables working capital financing in Europe.

UEPS permits the Company 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 (EMV = Europay, MasterCard, Visa) that seamlessly enables 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’s mobile technologies include their proprietary mobile payments solution, MVC, which offers secure mobile based payments, as well as mobile banking and prepaid value-added services in developed and emerging countries.

Net1 has a primary listing on the Nasdaq and a secondary listing on the Johannesburg Stock Exchange.

BANK FRICK

Bank Frick is a family-run Liechtenstein bank with headquarters in Balzers. It was founded in 1998 by Kuno Frick Sr, with a 70 percent majority held by the Liechtenstein-based Kuno Frick Family Foundation. Minority shareholder Net 1 UEPS Technologies, Inc. (Net1) holds 30 percent of Bank Frick’s share capital. Net1 is listed on the Nasdaq stock exchange in New York.

Bank Frick focuses on private clients, business clients and fund clients, who are supported by specialized departments.

Bank Frick is the only bank in Liechtenstein with acquiring licences from Visa and MasterCard.

For qualified market players Bank Frick develops tailor-made funds and acts as a custodian bank.

In the first half of 2017, the Bank with its roughly 78 employees generated a profit of CHF 2.7 million and managed assets in the amount of CHF 2.9 billion. As at the end of June 2017, the balance sheet total was CHF 990 million. The capital base stood at CHF 85 million.

Bank Frick operates a branch in London.