Net1’s Ceevo launches new payment solution in Europe

JOHANNESBURG, South Africa, July 02, 2020 (GLOBE NEWSWIRE) -- Net 1 UEPS Technologies, Inc. (“Net1” or the “Company”) (Nasdaq: UEPS; JSE: NT1) today announced that it has launched its automated onboarding payment gateway solution across Europe, offering local merchants a fast and simple plug-and-play payment solution available on www.ceevo.com to help them capitalize on growing cross-border ecommerce opportunities.

Net1’s Ceevo, formerly known as the International Payments Group, leverages its international reach and financial and technological expertise, to handle all the complexities of international payments including security, regulation, and a vast range of payment options so that merchants can focus on growing their businesses.

Ceevo’s solution is now available to all European merchants. Ceevo believes that the speed and simplicity of accepting electronic payments through its solution, together with its cross-border and compliance expertise, will be particularly attractive to underserved merchants in Eastern Europe who are either too small for large, multinational players, or underserved by local players who are unable to provide the necessary solutions to meet the international aspirations of these merchants.

“We are delighted to launch our Ceevo brand along with the first of our payment services developed on our new technology platform,” said Herman Kotze, CEO of Net1. “Our Ceevo team will focus on providing seamless, secure and trustworthy payment services that will enable European merchants to participate in global ecommerce activities by accepting payments from anybody, in any currency, from anywhere in the world.”

About Net1 (www.net1.com)

Net1 is a multinational financial technology company with a presence in Africa, Asia and Europe. Net1 leverages its proprietary banking and payment technology to distribute low-cost financial and value-added services to underbanked consumers and small businesses. The Company also provides transaction processing services, including being a leading payment processor and bill payment platform in South Africa. Net1 leverages its strategic investments in banks, telecom and mobile payment technology companies to further expand its product offerings or to enter new markets. Net1 has a primary listing on NASDAQ (NasdaqGS: UEPS) and a secondary listing on the Johannesburg Stock Exchange (JSE: NT1). Visit www.net1.com for additional information about Net1.

Forward-Looking Statements

This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical fact, included in this press release regarding strategy, future operations, and future revenues are forward-looking statements. The Company may not actually achieve the plans, intentions or expectations disclosed in its forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements that the Company makes. Factors that might cause such differences are included in the Company’s reports filed with the Securities and Exchange Commission, particularly in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2019, as such Risk Factors may be updated from time to time in subsequent reports. The Company does not assume any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Relations Contact:
Dhruv Chopra
Group Vice President, Investor Relations
Phone: +1 917-767-6722
Email: dchopra@net1.com

Media Relations Contact:
Bridget von Holdt
Business Director – BCW
Phone: +27-82-610-0650
Email: Bridget.vonholdt@bcw-global.com

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