Invest in Mexico News: NET1 To Set Up Shop In Mexico

Net1 UEPS has signed a deal with a Citigroup subsidiary in order to provide mobile virtual card technology in Mexico, and through this partnership, will be expanding its presence in South America.
Yesterday, it announced it had inked a deal with Banamex, a Mexico-based bank, to provide mobile virtual card technologies. The contract was signed through its wholly-owned subsidiary in Austria, Net1 Universal Technologies. This move will allow its coveted target market to enter affordably into electronic transactions with each other: government agencies, banks, employers, merchants and other financial service providers in Mexico will benefit. As CEO and Chairman Serge Belamant states, the deal "will open up money remittance and bill payment opportunities between the US and Mexico."
The company, listed on the Nasdaq exchange and the JSE, already operates all over the world, including countries in Africa as well as Iraq, Ukraine, Colombia, Vietnam, Uzbekistan, Russia, Oman, India, Moldova, Mongolia, the US and the Republic of South Korea.