GLOBAL EXPANSION
Net1 excited about venture targeting grants across globe
Net1 has appointed a leading international fintech veteran to help it drive the globalisation of the technology underpinning its controversial Cash Paymaster Services business. This is the business responsible for distributing social grants in SA. During the quarterly results presentation to analysts on Friday, CEO Herman Kotze said Net1 was "extremely excited" about the international initiative. It will be led by Carl Scheible, whom Kotze described as an industry veteran who has worked for Moneygram and PayPal in Europe, Africa and a number of other markets. In September 2015, Scheible was appointed chief commercial officer of ENett International, a payment solutions firm. The new Net1 business would focus exclusively on large-scale financial inclusion opportunities in emerging markets across the globe. "A significant effort will be placed on targeting social welfare programmes in those countries, using our proven biometric UEPS/EMV technology platform," Kotze told analysts. There ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.