8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 9, 2006

NET 1 UEPS TECHNOLOGIES, INC.
(Exact name of registrant as specified in its charter)

Florida	000-31203	65-0903895
(State or other jurisdiction	(Commission	(IRS Employer
of incorporation)	File Number)	Identification No.)

President Place, 4^th Floor, Cnr. Jan Smuts Avenue and Bolton Road

Rosebank, Johannesburg, South Africa

(Address of principal executive offices) (ZIP Code)

Registrant’s telephone number, including area code: 011-27-11-343-2000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02. Results of Operations and Financial Condition.

Item 7.01. Regulation FD Disclosure.

The following information is furnished pursuant to Item 2.02, “Results of Operations and Financial Condition” and Item 7.01, “Regulation FD Disclosure.”

On May 9, 2006, Net 1 UEPS Technologies, Inc. (“Net1”) issued a press release setting forth Net1’s third quarter fiscal 2006 earnings. A copy of Net1’s press release is attached as Exhibit 99.1.

Item 9.01. Financial Statements and Exhibits.

(d)	Exhibits.
	99.1	Press Release, dated May 9, 2006, issued by Net 1 UEPS Technologies, Inc., announcing third quarter results.

[remainder of page intentionally left blank; signature page follows]

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	NET 1 UEPS TECHNOLOGIES, INC.
Date: May 9, 2006	By:/s/ Dr. Serge C.P. Belamant
	Dr. Serge C.P. Belamant
	Chief Executive Officer

EX-99.1

Exhibit 99.1

Net 1 UEPS Technologies, Inc. Announces Third Quarter Results

Johannesburg, South Africa (May 9, 2006) –Net 1 UEPS Technologies, Inc. (“Net1” or the “Company”) (Nasdaq: UEPS) today announced results for the three and nine months ended March 31, 2006.

Results

The Company reported an increase in net income of 39% to $16.6 million for the three months ended March 31, 2006, from $12.0 million for the three months ended March 31, 2005. Earnings per common share and linked unit increased 34% to $0.292 for the three months ended March 31, 2006, compared to $0.218 for the three months ended March 31, 2005. Revenue increased 20% from $45.7 million for the third quarter of 2005 to $54.6 million for the third quarter of 2006.

The Company reported an increase in net income of 27% to $43.7 million for the nine months ended March 31, 2006, from $34.4 million for the nine months ended March 31, 2005. Earnings per common share and linked unit increased 23% to $0.774 for the nine months ended March 31, 2006, compared to $0.629 for the nine months ended March 31, 2005. Revenue increased 10% from $134.9 million for the first nine months of fiscal 2005 to $147.9 million for the first nine months of fiscal 2006.

Since the Company’s reporting currency is the U.S. dollar (“USD”) but its functional currency is the South African rand (“ZAR”), and due to the significant impact of currency fluctuations between the USD and the ZAR on the Company’s results of operations, the Company also analyzes its results of operations in ZAR to assist investors in understanding the changes in the underlying trends of its business. During the three and nine months ended March 31, 2006, the ZAR was weaker against the USD than during the same periods in the prior year. The impact of these changes on results of operations is shown under the column “Change” in the table of key metrics included at the end of this press release.

In ZAR, the Company reported an increase in net income of 42% to ZAR 102.3 million for the three months ended March 31, 2006, from ZAR 71.9 million for the three months ended March 31, 2005. Earnings per common share and linked unit increased 38% to ZAR 1.802 for the three months ended March 31, 2006, compared to ZAR 1.310 for the three months ended March 31, 2005. Revenue increased 23% from ZAR 274.5 million for the third quarter of 2005 to ZAR 336.8 million for the third quarter of 2006.

In ZAR, the Company reported an increase in net income of 32% to ZAR 279.7 million for the nine months ended March 31, 2006, from ZAR 211.5 million for the nine months ended March 31, 2005. Earnings per common share and linked unit increased 28% to ZAR 4.954 for the nine months ended March 31, 2006, compared to ZAR 3.862 for the nine months ended March 31, 2005. Revenue increased 14% from ZAR 828.6 million for the first nine months of fiscal 2005 to ZAR 946.9 million for the first nine months of fiscal 2006.

Third Quarter Highlights

• $187.8 million in transactions were processed through our merchant acquiring system in the third quarter of fiscal 2006, compared to $45.5 million in the third quarter of fiscal 2005. During the three months ended March 2006, 2,518,296 grants were paid through the Company’s terminal base, compared to 631,252 during the three months ended March 31, 2005;
• 3,905 terminals were in use at 2,352 participating UEPS retail locations as of March 31, 2006, compared with 2,406 terminals in use at 1,441 locations as of March 31, 2005. These numbers were comparable to December 31, 2005 while the number of transactions processed per terminal increased from 379 during the three months ended December 31, 2005, to 643 during the three months ended March 31, 2006 due to the improvement in the productivity of the installed base;

• UEPS transaction-based activities effected 10.7 million payments during the third quarter of fiscal 2006, a 7% increase over the number of payments effected during the third quarter of fiscal 2005;
• A total of 3,601,076 UEPS smart card-based accounts were active at March 31, 2006, compared to 3,321,368 active accounts at March 31, 2005;
• Hardware ordered in January 2006 totalling $4.4 million was delivered to Nedbank Limited with the remaining deliveries related to this order expected to be completed during the fourth quarter of fiscal 2006;
• Launch of SmartSwitch Namibia (Pty) Ltd in February;
• Customization and hardware totalling approximately $1.2 million was sold to SmartSwitch Namibia (Pty) Ltd during the three months ended March 31, 2006;
• Formation of SmartSwitch Botswana (Proprietary) Limited with Capricorn Investment Holdings (Botswana) (Proprietary) Limited; and,
• Offer for the entire issued and outstanding ordinary shares of Prism Holdings Limited, a South African company listed on the JSE Limited, for ZAR1.16 per share, or approximately ZAR720 million ($115.2 million at the March 31, 2006 USD/ZAR exchange rate).

Comment and Outlook
Serge Belamant, Net1’s Chairman and Chief Executive Officer, stated, “I am very pleased with our strong quarter from both an operational and strategic perspective. During the third quarter more than 2.5 million grants with a value of $187.8 million were distributed through secure and convenient UEPS-enabled merchant locations, a 59% increase over last quarter. We also benefited from the shipment of products and services to SmartSwitch Namibia, which launched in February, and an acceleration in the delivery of equipment to Nedbank under their latest order.

“During the quarter we signed a new joint venture in Botswana,” Dr. Belamant continued, “which along with South Africa and Namibia creates an emerging bloc of countries using our UEPS technology. Additionally, we announced our planned acquisition of Prism, which I believe will make Net1 an even more dynamic company as we explore opportunities on the African continent and around the world.”

“Based on our performance over the first nine months of fiscal 2006, we reaffirm our guidance on earnings per share of $0.98 to $1.02 for the full year, assuming an exchange rate of ZAR6.50 to USD1.00," Dr. Belamant concluded.

Conference call

Net1 will host a conference call to review third quarter results on May 10, 2006 at 9:30 a.m EST. To participate in the call, dial 1-800-860-2442 (U.S. only), 1-866-519-5086 (Canada only), 0-800-917-7042 (U.K. only) or 0-800-200-648 (South Africa only) five minutes prior to the start of the call. The passcode is “Net1”. The call will also be webcast on the Net1 homepage, www.net1ueps.com. Please click on the webcast link at least 10 minutes prior to the call. A replay of the call may be accessed through the Net1 website through May 23, 2006.

About Net1 (www.net1ueps.com)
Net1 provides its universal electronic payment system, or UEPS, as an alternative payment system for the unbanked and under-banked populations of developing economies. The Company believes that it is the first company worldwide to implement a system that can enable the estimated four billion people who generally have limited or no access to a bank account to enter affordably into electronic transactions with each other, government agencies, employers, merchants and other financial service providers. To accomplish this, the Company has developed and deployed the UEPS. This system uses secure smart cards that operate in real-time but offline, unlike traditional payment systems offered by major banking institutions that require immediate access through a communications network to a centralized computer. This offline capability means that users of Net1’s system can enter into transactions at any time with other card holders in even the most remote areas so long as a portable offline smart card reader is available. In addition to payments and purchases, Net1’s system can be used for banking, health care management, international money transfers, voting and identification.

This announcement may contain forward-looking statements pursuant to the “safe-harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the company’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed, implied or inferred by these forward-looking statements, such as product demand, market and customer acceptance, the effect of economic conditions, competition, pricing, development difficulties, foreign currency risks, costs of capital, the ability to consummate and integrate acquisitions, and other risks detailed in the Company’s SEC filings. The Company undertakes no obligation to revise any of these statements to reflect future circumstances or the occurrence of unanticipated events.

Contact William Espley at Net1 Investor Relations at:

Telephone: (604) 484-8750

Toll Free: 1-866-412-NET1 (6381)

NET 1 UEPS TECHNOLOGIES, INC.
Unaudited Condensed Consolidated Statements of Operations

		Three months ended				Nine months ended
		March 31,				March 31,
		2006		2005		2006		2005
		(In thousands, except per share data)				(In thousands, except per share data)
REVENUE	$	54,584	$	45,667	$	147,900 $		134,885
EXPENSE
Cost of goods sold, IT processing, servicing and support		14,469		12,428		39,196		41,207
General and administration (1)		13,620		11,436		36,232		33,804
Depreciation and amortization		1,428		1,668		4,331		4,897
Costs related to public offering and Nasdaq listing		25		-		1,529		-
OPERATING INCOME		25,042		20,135		66,612		54,977
INTEREST INCOME, net		1,535		294		3,781		1,497
INCOME BEFORE INCOME TAXES		26,577		20,429		70,393		56,474
INCOME TAX EXPENSE		10,074		8,619		27,062		22,534
NET INCOME FROM CONTINUING OPERATIONS
BEFORE EARNINGS FROM EQUITY ACCOUNTED
INVESTMENTS		16,503		11,810		43,331		33,940
EARNINGS FROM EQUITY ACCOUNTED
INVESTMENTS, net		73		147		356		480
NET INCOME	$	16,576	$	11,957	$	43,687	$	34,420
Net income per share
Basic earnings, in cents – common stock and linked units		29.2		21.8		77.4		62.9
Diluted earnings, in cents – common stock and linked units		28.8		21.4		76.2		61.8
The following weighted average number of shares was used to calculate:
Basic earnings – common stock and linked units		56,670,580		54,700,393		56,442,066		54,700,393
Diluted earnings – common stock and linked units		57,592,554		55,870,344		57,343,816		55,707,240

(1)  General and administration expense includes a stock compensation charge of $124,199 for the three and nine months ended March 31, 2006.

NET 1 UEPS TECHNOLOGIES, INC.
Condensed Consolidated Balance Sheets

		Unaudited		(A)
		March 31,		June 30,
		2006		2005
		(In thousands, except share data)
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	193,897	$	107,749
Pre-funded social welfare grants receivable		15,961		11,567
Accounts receivable, net of allowances of – March $160; June: $0		24,000		15,293
Finance loans receivable, net of allowances of – March: $3,652; June: $3,636		8,492		7,760
Deferred expenditure on smart cards		1,202		3,014
Inventory		2,930		1,927
Deferred income taxes		3,290		3,354
Total current assets		249,772		150,664
LONG TERM RECEIVABLE		1,108		969
PROPERTY, PLANT AND EQUIPMENT, NET OF ACCUMULATED
DEPRECIATION OF – March: $24,353; June: $20,624		4,969		6,216
EQUITY ACCOUNTED INVESTMENTS		4,397		1,325
GOODWILL		15,242		14,636
INTANGIBLE ASSETS, NET OF ACCUMULATED AMORTIZATION OF –
March: $6,840; June: $4,919		6,587		7,944
TOTAL ASSETS		282,075		181,754
LIABILITIES
CURRENT LIABILITIES
Accounts payable		32,327		20,315
Income taxes payable		9,925		14,038
Total current liabilities		42,252		34,353
DEFERRED INCOME TAXES		17,738		10,399
TOTAL LIABILITIES		59,990		44,752
SHAREHOLDERS’ EQUITY
COMMON STOCK
Authorized: 83,333,333 with $0.001 par value;
Issued and outstanding shares - March: 48,009,788; June: 28,548,269		48		29
SPECIAL CONVERTIBLE PREFERRED STOCK
Authorized: 50,000,000 with $0.001 par value;
Issued and outstanding shares - March: 8,660,792; June: 26,733,521		9		27
B CLASS PREFERENCE SHARES
Authorized: 330,000,000 with $0.001 par value;
Issued and outstanding shares (net of shares held by the Company) - March:
63,816,383; June: 196,983,841		10		31
ADDITIONAL PAID-IN-CAPITAL		104,323		71,960
ACCUMULATED OTHER COMPREHENSIVE INCOME		16,367		7,314
RETAINED EARNINGS		101,328		57,641
TOTAL SHAREHOLDERS’ EQUITY		222,085		137,002
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	282,075	$	181,754
(A) – amounts derived from audited financial statements

NET 1 UEPS TECHNOLOGIES, INC.
Unaudited Condensed Consolidated Statements of Cash Flows

		Three months ended						Nine months ended
		March 31,						March 31,
		2006			2005			2006			2005
		(In thousands)						(In thousands)
Cash flows from operating activities
Cash received from customers	$	25,724		$	18,941		$	135,763		$	127,910
Cash paid to suppliers and employees		(11,905	)		(21,365	)		(63,889	)		(81,864	)
Cash generated by operations		13,819			(2,424	)		71,874			46,046
Interest received		3,805			3,815			10,128			11,645
Finance costs paid		(2,377	)		(3,517	)		(6,456	)		(10,131	)
Income taxes paid		(6,234	)		-			(24,309	)		(31,984	)
Net cash provided by (used in) operating activities (refer
to note 10)		9,013			(2,126	)		51,237			15,576
Cash flows from investing activities
Capital expenditures		(315	)		(1,260	)		(1,203	)		(2,982	)
Proceeds from disposal of property, plant and equipment		16			8			100			29
Cash inflow from disposal of business		10			-			10			-
Acquisition of equity interest in and advance of loans to equity
accounted investment		(761	)		-			(2,612	)		-
Net cash used in investing activities		(1,050	)		(1,252	)		(3,705	)		(2,953	)
Cash flows from financing activities
Proceeds from issue of share capital, net of share issue
expenses		-			-			32,219			-
Repayment of credit facilities		-			-			-			(19	)
Net cash provided by (used in) financing activities		-			-			32,219			(19	)
Effect of exchange rate changes on cash		2,032			(9,226	)		6,397			(174	)
Net increase in cash and cash equivalents		9,995			(12,604	)		86,148			12,430
Cash and cash equivalents – beginning of period		183,902			105,316			107,749			80,282
Cash and cash equivalents – end of period	$	193,897		$	92,712		$	193,897		$	92,712

Net 1 UEPS Technologies, Inc.
Attachment A

Key metrics and statistics at and for the three and nine months ended March 31, 2006 and 2005:

Three months ended March 31, 2006 and 2005

										Three
										months
										ended
		Three months ended								December			Year ended
		March 31,					Change			31			June 30
								Constant
		2006			2005			Exchange		2005			2005
		US$			US$		Actual	Rate (1)		US$			US$
Key statement of operations data, in
‘000, except EPS
Revenue	$	54,584		$	45,667		20%	23%	$	47,429		$	176,290
Stock compensation charge		124			-			n/m		-			-
Operating income		25,042			20,135		24%	28%		21,173			71,303
Income tax expense		10,074			8,619		17%	20%		8,577			29,666
Net income	$	16,576		$	11,957		39%	42%	$	13,932		$	44,562
Earnings per share, in cents
Basic		29.2			21.8		34%	37%		24.6			81.4
Diluted		28.8			21.4		35%	38%		24.2			79.6
Key segmental data, in ‘000, except margins
Revenue:
Transaction-based activities	$	31,767		$	26,683		19%	22%	$	27,255		$	103,653
Smart card accounts		9,570			9,157		5%	7%		8,744			34,931
Financial services		4,200			5,322		(21)%	(19)%		3,982			20,215
Hardware, software and related
technology sales		9,047			4,505		101%	106%		7,448			17,491
Total consolidated revenue	$	54,584		$	45,667		20%	23%	$	47,429		$	176,290
Consolidated operating income (loss):
Transaction-based activities	$	16,428		$	11,622		41%	45%	$	13,517		$	44,233
Smart card accounts		4,351			4,163		5%	7%		3,974			15,878
Financial services		1,782			2,836		(37)%	(35)%		1,828			9,316
Hardware, software and related
technology sales		5,449			1,533		255%	265%		3,874			5,689
Corporate/ Eliminations		(2,968	)		(19	)	n/m	n/m		(2,020	)		(3,813	)
Total operating income (loss)	$	25,042		$	20,135		24%	28%	$	21,173		$	71,303
Operating income margin (%)
Transaction-based activities		52%			44%					50%			43%
Smart card accounts		45%			45%					45%			45%
Financial services		42%			53%					46%			46%
Hardware, software and related
technology sales		60%			34%					52%			33%
Overall operating margin		46%			44%					45%			40%
		Mar. 31,			June 30,
		2006			2005
Key balance sheet data, in ‘000
Cash and cash equivalents	$	193,897		$	107,749		80%
Total current assets		249,772			150,664		66%
Total assets		282,075			181,754		55%
Total current liabilities		42,252			34,353		23%
Total shareholders’ equity	$	222,085		$	137,002		62%

(1) – This information shows what the change in these items would have been if the USD/ ZAR exchange rate that prevailed during the third quarter of fiscal 2006 also prevailed during the third quarter of fiscal 2005.

Three months ended March 31, 2006 and 2005 (continued)

						Three
						months
						ended
	Three months ended					December		Year ended
	March 31,				Change	31		June 30
	2006		2005			2005		2005
Additional information:
Transaction-based activities:
Total number of grants paid:
KwaZulu-Natal	4,606,938		4,283,526		8%	4,444,129		16,774,940
Limpopo	2,832,121		2,693,793		5%	2,753,537		10,635,232
North West	801,524		789,504		2%	787,009		3,153,868
Northern Cape	401,712		361,818		11%	396,750		1,459,264
Eastern Cape	2,088,799		1,884,626		11%	2,034,904		7,410,272
	10,731,094		10,013,267		7%	10,416,329		39,433,576
Average revenue per grant paid:	ZAR		ZAR			ZAR		ZAR
KwaZulu-Natal	20.19		17.07		18%	20.67		17.85
Limpopo	15.42		15.57		(1)%	15.59		15.34
North West	17.23		16.34		5%	17.21		16.43
Northern Cape	18.84		19.43		(3)%	18.89		19.41
Eastern Cape	11.98		12.35		(3)%	12.07		12.35
UEPS merchant acquiring system:
Terminals installed at period end	3,905		2,406		62%	3,929		3,235
Number of participating retail
locations at period end	2,352		1,441		63%	2,366		1,880
Value of transactions processed
through POS devices during the
quarter (in $ ’000)	187,841		45,529		n/m	118,396		87,643
Value of transactions processed
through POS devices during the
completed pay cycles for the quarter
(in $ ’000)	171,022		44,433		n/m	127,765		85,408
Average number of grants processed
per terminal during the quarter	643		344		n/m	379		406
Average number of grants processed
per terminal during the completed pay
cycles for the quarter	584		349		n/m	470		464
Smart card accounts:
Total number of smart card accounts	3,601,076		3,321,368		8%	3,497,664		3,353,603
Hardware, software and related
technology sales:
Ad hoc significant hardware sales
(US$ ‘000)
Nedbank POS’s, pin pads, smart cards
and other hardware	4,400		2,700		63%	3,400		10,400
Smartswitch Namibia hardware and
software (before consolidation
adjustments)	1,200		-		Nm	1,500		-
Financial services: (US$ ‘000)
Traditional microlending:
Finance loans receivable – gross	8,289		11,143		(26)%	8,318		7,212
Allowance for doubtful finance loans
receivable	(3,652	)	(7,059	)	(48)%	(3,672	)	(3,636	)
Finance loans receivable – net	4,637		4,084		14%	4,646		3,576
UEPS-based lending:
Finance loans receivable –net and gross (i.e., no provisions)	3,855		4,746		(19)%	5,732		4,184
nm – Statistic not meaningful

Nine months ended March 31, 2006 and 2005

		Nine months ended								Year ended
		March 31,					Change			June 30
								Constant
		2006			2005			Exchange		2005
		US$			US$		Actual	Rate (1)		US$
Key statement of operations data, in
‘000, except EPS
Revenue	$	147,900		$	134,885		10%	14%	$	176,290
Stock compensation charge		124			-		n/m	n/m		-
Operating income		66,612			54,977		21%	26%		71,303
Income tax expense		27,062			22,534		20%	25%		29,666
Net income	$	43,687		$	34,420		27%	32%	$	44,562
Earnings per share, in cents
Basic		77.4			62.9		23%	28%		81.4
Diluted		76.2			61.8		23%	29%		79.6
Key segmental data, in ‘000, except
margins
Revenue:
Transaction-based activities	$	86,840		$	77,538		12%	17%	$	103,653
Smart card accounts		26,866			26,362		2%	6%		34,931
Financial services		12,456			15,642		(20)%	(17)%		20,215
Hardware, software and related
technology sales		21,738			15,343		42%	48%		17,491
Total consolidated revenue	$	147,900		$	134,885		10%	14%	$	176,290
Consolidated operating income (loss):
Transaction-based activities	$	44,077		$	31,629		39%	45%	$	44,233
Smart card accounts		12,212			11,983		2%	6%		15,878
Financial services		5,454			7,579		(28)%	(25)%		9,316
Hardware, software and related
technology sales		13,390			5,803		131%	140%		5,689
Corporate/ Eliminations		(8,521	)		(2,017	)	322%	340%		(3,813	)
Total operating income (loss)	$	66,612		$	54,977		21%	26%	$	71,303
Operating income margin (%)
Transaction-based activities		51%			41%					43%
Smart card accounts		45%			45%					45%
Financial services		44%			48%					46%
Hardware, software and related
technology sales		62%			38%					33%
Overall operating margin		45%			41%					40%
		Mar. 31,			June 30,
		2006			2005
Key balance sheet data, in ‘000
Cash and cash equivalents	$	193,897		$	107,749		80%
Total current assets		249,772			150,664		66%
Total assets		282,075			181,754		55%
Total current liabilities		42,252			34,353		23%
Total shareholders’ equity	$	222,085		$	137,002		62%

(1) – This information shows what the change in these items would have been if the USD/ ZAR exchange rate that prevailed during the nine months ended March 31, 2006 also prevailed during the nine months ended March 31, 2005.

Nine months ended March 31, 2006 and 2005 (continued)

	Nine months ended					Year ended
	March 31,				Change	June 30
	2006		2005			2005
Additional information:
Transaction-based activities:
Total number of grants paid:
KwaZulu-Natal	13,359,432		12,494,917		7%	16,774,940
Limpopo	8,279,826		8,012,425		3%	10,635,232
North West	2,365,496		2,366,301		(1)%	3,153,868
Northern Cape	1,188,037		1,081,419		10%	1,459,264
Eastern Cape	6,093,874		5,480,916		11%	7,410,272
	31,286,665		29,435,978		6%	39,433,576
Average revenue per grant paid:	ZAR		ZAR			ZAR
KwaZulu-Natal	20.04		18.11		11%	17.85
Limpopo	15.38		15.25		1%	15.34
North West	17.01		16.48		3%	16.43
Northern Cape	18.92		19.47		(3)%	19.41
Eastern Cape	12.08		12.37		(2)%	12.35
UEPS merchant acquiring system:
Terminals installed at period end	3,905		2,406		62%	3,235
Number of participating retail
locations at period end	2,352		1,441		63%	1,880
Value of transactions processed
through POS devices during the
quarter (in $ ’000)	187,841		45,529		n/m	87,643
Value of transactions processed
through POS devices during the
completed pay cycles for the quarter
(in $ ’000)	171,022		44,433		n/m	85,408
Average number of grants processed
per terminal during the quarter	643		344		n/m	406
Average number of grants processed
per terminal during the completed pay
cycles for the quarter	584		349		n/m	464
Smart card accounts:
Total number of smart card accounts	3,601,076		3,321,368		8%	3,353,603
Hardware, software and related technology sales:
Ad hoc significant hardware sales
(US$ ‘000)
Nedbank POS’s, pin pads, smart cards
and other hardware	10,900		10,400		5%	10,400
Smartswitch Namibia hardware and
software (before consolidation
adjustments)	3,900		-		nm	-
Financial services: (US$ ‘000)
Traditional microlending:
Finance loans receivable – gross	8,289		11,143		(26)%	7,212
Allowance for doubtful finance loans
receivable	(3,652	)	(7,059	)	(48)%	(3,636	)
Finance loans receivable – net	4,637		4,084		14%	3,576
UEPS-based lending:
Finance loans receivable –net and
gross (i.e., no provisions)	3,855		4,746		(19)%	4,184
nm – Statistic not meaningful