Net1

In 2008 Net1 acquired 80.1% of the shares BGS, having inherited thereby and the Russian business of this company which appeared not the simplest asset. The ORPS payment system did not become the interbank Russian national card project – a total issuing volume of cards all its other participants, except for Sberbank, in two years did not exceed several hundred thousands. In 2009 Sberbank made the decision on total replacement of a technology platform of DUET by EMV compatible "PRO100". In August, 2010 shareholders of Sberkarta Ltd, the operator of ORPS, announced closing of the company. During the transient period which will occupy a little is not present, Net1 Universal Technologies East will continue to support a system of Sberbank.^[1]

Besides, together with purchase of BGS Net1 company got other projects in Russia, the CIS countries and in the Middle East. For a short time could give to a number of the Net1 projects new energy and bring them to more significant level. In particular, in Uzbekistan, in the project of National payment system "Uzkart" the number of active holders of cards in two years doubled and reached 7 million.

As for the Russian market, Net1 look at it with optimism, believing that both new developments of the company, and its essentially new approaches to business far from those which offered before BGS, still will bear fruit here.