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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001062993-07-000383.txt : 20070205
<SEC-HEADER>0001062993-07-000383.hdr.sgml : 20070205
<ACCEPTANCE-DATETIME>20070205165427
ACCESSION NUMBER:		0001062993-07-000383
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20070131
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20070205
DATE AS OF CHANGE:		20070205

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NET 1 UEPS TECHNOLOGIES INC
		CENTRAL INDEX KEY:			0001041514
		STANDARD INDUSTRIAL CLASSIFICATION:	FUNCTIONS RELATED TO DEPOSITORY BANKING, NEC [6099]
		IRS NUMBER:				980171860
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-31203
		FILM NUMBER:		07580999

	BUSINESS ADDRESS:	
		STREET 1:		4TH FLOOR, PRESIDENT PLACE
		STREET 2:		CNR. JAN SMUTS & BOLTON
		CITY:			ROSEBANK, JOHANNESBURG
		STATE:			T3
		ZIP:			00000
		BUSINESS PHONE:		27 11 343 2000

	MAIL ADDRESS:	
		STREET 1:		4TH FLOOR, PRESIDENT PLACE
		STREET 2:		CNR. JAN SMUTS & BOLTON
		CITY:			ROSEBANK, JOHANNESBURG
		STATE:			T3
		ZIP:			00000
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8k.htm
<TEXT>
<!DOCTYPE HTML PUBLIC "Net 1 8-K re_ option grants.pdf">


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<HEAD>
   <TITLE>Filed by Automated Filing Services Inc. (604) 609-0244 - </TITLE>
   <META name="HandheldFriendly" content="true">
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<P align=center><STRONG><FONT size=5>UNITED STATES </FONT><BR>
  <FONT size=5>SECURITIES AND EXCHANGE COMMISSION </FONT><BR>
  </STRONG>Washington, D.C. 20549 </P>
<P align=center><B><FONT size=5>FORM 8-K </FONT></B></P>
<P align=center><B>CURRENT REPORT <BR>
  </B><B>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
  </B></P>
<P align=center>Date of Report (Date of earliest event reported): <u><strong>January
  31, 2007</strong></u></P>
<P align=center><B><U><FONT size=5>NET 1 UEPS TECHNOLOGIES, INC. <BR>
  </FONT></U></B>(Exact name of registrant as specified in its charter) </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>
  <TR vAlign=top>
    <TD align=center><U><B>Florida </B></U></TD>
    <TD align=center width="33%"><U><B>000-31203 </B></U></TD>
    <TD align=center width="33%"><U><B>98-0171860 </B></U></TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>(State or other jurisdiction </TD>
    <TD align=center width="33%">(Commission </TD>
    <TD align=center width="33%">(IRS Employer </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>of incorporation) </TD>
    <TD align=center width="33%">File Number) </TD>
    <TD align=center width="33%">Identification No.) </TD>
  </TR>
</TABLE>
<P align=center><B>President Place, 4</B><B><SUP>th</SUP></B><B> Floor, Cnr. Jan
  Smuts Avenue and Bolton Road<BR>
  <U>Rosebank, Johannesburg, South Africa</U> <BR>
  </B>(Address of principal executive offices) (ZIP Code) </P>
<P align=center>Registrant&#146;s telephone number, including area code: <B><U>011-27-11-343-2000</U>
  </B></P>
<P align=justify>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: </P>
<P align=justify>[&nbsp; &nbsp;] Written communications pursuant to Rule 425 under
  the Securities Act (17 CFR 230.425) </P>
<P align=justify>[&nbsp; &nbsp;] Soliciting material pursuant to Rule 14a-12 under
  the Exchange Act (17 CFR 240.14a -12) </P>
<P align=justify>[&nbsp; &nbsp;] Pre-commencement communications pursuant to Rule
  14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b)) </P>
<P align=justify>[&nbsp;&nbsp; ] Pre-commencement communications pursuant to Rule
  13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c)) </P>
<P align=justify>&nbsp;</P>
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<P align=justify><B>Item 1.01. Entry into a Material Definitive Agreement</B></P>
<P align=justify>Effective January 31, 2007, pursuant to a letter agreement between
  Net 1 UEPS Technologies, Inc. (&#8220;Net1&#8221;) and the South African Social
  Security Agency, all of Net1&#8217;s provincial contracts to distribute pension
  and welfare benefits were formally extended. The terms and conditions of the
  contracts are similar to those included in the service level agreements signed
  between Net1 and the provincial governments.</P>
<P align=justify><B>Item 8.01. Other Events.</B></P>
<P align=justify>On February 5, 2007, Net 1 UEPS Technologies, Inc. issued a press
  release announcing the extension of the provincial contracts. A copy of Net1&#8217;s
  press release is attached as Exhibit 99.1. </P>
<P align=justify><strong>Item 9.01. Financial Statements and Exhibits.</strong></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD> <P align=justify><U>Exhibits</U>.</P></TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%" bgColor=#ffffff>&nbsp;</TD>
    <TD width="5%" bgColor=#EEEEEE><a href="exhibit99-1.htm">99.1 </a></TD>
    <TD bgColor=#EEEEEE><a href="exhibit99-1.htm">&nbsp;Press Release, dated February
      5, 2007, issued by Net 1 UEPS Technologies, Inc.</a></TD>
  </TR>
</TABLE>
<p align="center">[remainder of page intentionally left blank; signature page
  follows]</p>
<DIV></DIV>
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<P align=center><B>SIGNATURES</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="33%">&nbsp; </TD>
    <TD align=left width="33%"><B>NET 1 UEPS TECHNOLOGIES, INC.</B> </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="33%">&nbsp; </TD>
    <TD width="33%">&nbsp; </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="33%">&nbsp; </TD>
    <TD width="33%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="33%">&nbsp; </TD>
    <TD align=left width="33%">By: <U>/s/ Dr. Serge C.P. Belamant</U></TD>
  </TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="33%">&nbsp; </TD>
    <TD width="33%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left colSpan=2>Date: February 5, 2007</TD>
    <TD align=left width="33%">&nbsp; &nbsp; &nbsp; &nbsp;By: Dr. Serge C.P. Belamant</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="33%">&nbsp; </TD>
    <TD align=left width="33%">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chief
      Executive Officer</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="33%">&nbsp; </TD>
    <TD align=left width="33%">&nbsp; &nbsp; &nbsp; &nbsp;</TD>
  </TR></TABLE><BR>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exhibit99-1.htm
<TEXT>
<!DOCTYPE HTML PUBLIC "C. Smart resignation press release.pdf">


<HTML>
<HEAD>
   <TITLE>Filed by Automated Filing Services Inc. (604) 609-0244 - Net 1 UEPS Technologies, Inc. - Exhibit 99.1</TITLE>
   <META name="HandheldFriendly" content="true">
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<P align=right><B><U>Exhibit 99.1</U></B></P>
<P align=justify><B>Net1 Announces Extension of South African Provincial Contracts</B></P>
<P align=justify><strong>JOHANNESBURG, February 5, 2007 </strong>&#8211; Net 1
  UEPS Technologies, Inc. (NASDAQ: UEPS) (&quot;Net1&quot; or the &#8220;Company&#8221;)
  announced today that it has received from the South African Social Security
  Agency formal notification of extensions until March 31, 2008 of all its contracts
  to distribute social welfare grants. The terms and conditions of the extensions
  are similar to those included in the Service Level Agreements signed between
  Net1 and the provincial governments.</P>
<p align="justify">Net1 utilizes its smart-card based UEPS technology to distribute
  monthly grants to more than 3.7 million social welfare recipients in the Kwa-Zulu
  Natal, Limpopo, Eastern Cape, Northern Cape and North West provinces of South
  Africa. The grants distributed include old age grants, disability grants and
  child support grants.</p>
<p align="justify"><strong>About Net1</strong> (<font color="#0000FF">www.net1ueps.com</font>)<br>
  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&#8217;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&#8217;s system can be used for banking,
  health care management, international money transfers, voting and identification.</p>
<p align="justify">Net1&#8217;s subsidiary, Prism, is a company focused on the
  development and provision of secure transaction technology, solutions and services.
  Prism&#8217;s core competencies around secure online transaction processing,
  cryptography and integrated circuit card (chip/smart card) technologies are
  principally applied to electronic commerce transactions in the telecommunications,
  banking, retail, petroleum and utilities market sectors. These technologies
  form the cornerstones of the &#8220;trusted transactions&#8221; environment
  and provide us with the building blocks for developing secure end-to-end payment
  solutions. </p>
<p align="justify">This announcement contains forward-looking statements pursuant
  to the &#8220;safe harbor&#8221; 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&#8217;s actual
  results, levels of activity, performance or achievements to be materially different
  from any future results, levels of activity, performance or </p>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<p align="justify">achievements expressed, implied or inferred by these forward-looking
  statements, such as implementation of the Company&#8217;s Prism strategy, 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&#8217;s SEC filings. The Company undertakes no obligation to
  revise any of these statements to reflect future circumstances or the occurrence
  of unanticipated events.</p>
<P align=justify><I>Contact</I>:</P>
<P style="MARGIN-LEFT: 5%" align=justify>Net 1 UEPS Technologies, Inc.<BR>
  William Espley<br>
  Net1 Investor Relations<BR>
  (604) 484-8750 or Toll Free: 1-866-412-NET1 (6381)<BR>
  <U><FONT
color=#0000ff>www.net1ueps.com</FONT></U></P>
<HR align=center width="100%" color=black noShade SIZE=5>
<P style="MARGIN-LEFT: 5%" align=justify>&nbsp;</P>
<p>&nbsp;</p>
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