ZAZOO’s VCpay is a finalist at the 2015 MTN App Awards

Application recognised for innovation in payments

Press release: Johannesburg, 14 August 2015: VCpay™, the mobile payments application by ZAZOO, a business unit of Net 1 UEPS Technologies, Inc. (“Net1”) (Nasdaq: UEPS; JSE: NT1), was nominated for four awards at the 2015 MTN App of the Year awards. The category pitted the country’s most exciting payments applications against one another, and was judged by leading technology experts and journalists, and was also voted for by consumers in an online competition.

ZAZOO was a finalist in the following categories, namely: Best Enterprise App; Best Consumer App; Most Innovative App; and Best Overall App.

“Congratulations to all the category winners – it was a tough competition,” says Philip Belamant, Managing Director of ZAZOO. “The high calibre of finalists in these categories is a clear demonstration that South Africans are increasingly enjoying the value that the mobile economy offers – and that mobile technology really is empowering consumers to take control of their finances in more ways than was possible before.”

Previously, ZAZOO won the enterprise category at the MTN App of the Year awards, with its MarkitShare app in 2013.
VCpay™ uses ZAZOO’s patented Mobile Virtual Card (“MVC”) technology, enabling mobile devices to generate virtual MasterCard payment cards. Users can activate VCpay™ by following a simple registration process and linking the application to any number of funding options, from credit cards, to EFTs, to direct top-ups, cash and more.

ZAZOO launched VCpay™ earlier in 2015 and has established several significant partnerships in the local and international arena, extending the security and convenience offered by the mobile card technology to Microsoft, Uber and Funifi users.

The app, which is available in the iOs, Google Play and Windows Phone app stores, has seen success since its inception with transaction volume increasing 29% month on month. There has reportedly been a 64% growth in registered users over the last three months, with an average of five transactions per user on a monthly basis.

“The ZAZOO team is inspired by the strength of this competition, and our performance in it, and we will continue to dedicate ourselves to making payments easy and simple through mobile technology,” Belamant says. “We look forward to partnering with more businesses and service providers to extend the reach of VCpay™, putting the power of cashless payments firmly in the hands of the consumer.”

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