Net1's Transact24 Obtains Payment Intermediary Services Licences in Mauritius

Net 1 UEPS Technologies Inc, today announced that its wholly-owned subsidiary, Transact24 ("T24"), has obtained Payment Intermediary Services Licences from the Financial Services Commission Mauritius.

These licenses were granted to T24's Mauritius-based subsidiaries. A Payment Intermediary Services Licence allows a Payment Services Provider such as T24, to participate in the growing e-commerce market by offering online merchants the ability to accept various forms of electronic payments worldwide.

"Transact24 is committed to providing efficient payment solutions and is currently pursuing various key projects and strategies internationally. These Payment Intermediary Services Licences provide part of the necessary regulatory framework required to pursue the product and geographic opportunities identified by T24 and Net1," said Philip Meyer, Managing Director of Transact24 Limited.