June 6, 2014 -
Net1 UEPS Technologies has announced that it has received approximately $25.7 million from the South African Social Security Agency (SASSA), in relation to the recovery of additional implementation costs during the biometric registration of all social grant beneficiaries.
According to the company, this activity was in addition to grant recipients who had previously been issued SASSA-branded UEPS/EMV smart cards. In total, Net1 says it performed approximately 11 million additional biometric registrations that did not form a part of its monthly service fee.
“The decision to re-register all 21 million social grant beneficiaries has enabled SASSA, through the use of Net1’s biometric search engine and data analysis tools, to identify and remove any duplicate, invalid and non-existent grant recipients from the grant system,” the company said in an announcement this week. “The saving to the South African fiscus to date amounts to approximately US $282,000 (ZAR 3 billion) per annum due to the elimination of these grants.”
Reported previously in BiometricUpdate.com, since 2012, more than 2.5 million biometric payment cards have been issued in South Africa, under a contract awarded to Net1.