Net1 expands mobile payments business to UK
Alternative payment systems provider Net1 is expanding globally through a new subsidiary in the UK
Net 1 UEPS Technologies (Net1), a provider of alternative payment systems, has established a new subsidiary in the UK called Zazoo Limited (ZAZOO) to oversee the global expansion of its mobile payments and value-added services businesses.
ZAZOO will focus on worldwide growth opportunities, particularly in the UK, Europe, the US, India and other developed and emerging markets apart from managing activities currently conducted through the Johannesburg-based Net1 Mobile Solutions (N1MS).
The new company will coordinate all research and development, operations and marketing activities associated with Net1’s mobile businesses.
ZAZOO managing director Philip Belamant said: “We intend to take Net1’s patented technology solutions to new markets and new clients, with London serving as a convenient hub from which we will coordinate all our global efforts, unlock the value of our products and solutions and build a technology company for the future.
“We chose the name ZAZOO and our new corporate logo because it’s catchy and memorable and evokes a sense of energy that reflects the spirit and passion of our business culture.”