EXHIBIT 21

SUBSIDIARIES OF REGISTRANT

          The following is a list of subsidiaries of the Company as of June 30, 2009, omitting subsidiaries which, considered in the aggregate, would not constitute a significant subsidiary.

NAME	WHERE ORGANIZED
Net1 Applied Technologies South Africa Limited	Republic of South Africa
Net1 Universal Electronic Technological Solutions (Pty) Ltd	Republic of South Africa
Cash Paymaster Service (Pty) Limited	Republic of South Africa
Cash Paymaster Services (Eastern Cape) (Pty) Limited	Republic of South Africa
Cash Paymaster Services (Northern) (Pty) Limited	Republic of South Africa
Cash Paymaster Services (KwaZulu Natal) (Pty) Limited	Republic of South Africa
Cash Paymaster Services (Northern Cape) (Pty) Limited	Republic of South Africa
Cash Paymaster Services (North West) (Pty) Limited	Republic of South Africa
Net1 Finance Holdings (Pty) Limited	Republic of South Africa
Moneyline Financial Services (Pty) Limited	Republic of South Africa
Prism Holdings Limited	Republic of South Africa
Prism Payment Technologies (Pty) Limited	Republic of South Africa
EasyPay (Pty) Ltd	Republic of South Africa
SmartSwitch Netherlands CV	Netherlands
Net1 Applied Technologies Netherlands BV	Netherlands
Net1 Applied Technologies Austria GmbH	Austria
BGS Smartcard Systems A.G.	Austria
OOO BGS Smartcard Systems	Russian Federation
OOO Smart	Russian Federation
NUEP Holdings S.a.r.l.	Luxembourg
SmartSwitch Nigeria Limited	Federation of Nigeria