Net1 (NASDAQ: UEPS) is a provider of alternative payment systems that leverage its Universal Electronic Payment System (UEPS) or utilize its mobile technologies. The company offers debit, credit, and prepaid processing and issuing services through Transact24. 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 that enable 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 its 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 is the leading provider of secure and affordable transaction channels between formal business and un-banked and under-banked individuals.