Iraq has launched its first payment solution

[img_assist|nid=9337|title=|desc=|link=none|align=left|width=100|height=67]Recently in the capital of Iraq, Baghdad, Net 1 UEPS Technologies, Inc. has launched its Universal Electronic Payment System ("UEPS").  UEPS smart card technology was launched in the presence of the prominent officials and representatives of a number of financial entities. The procedure took place on August 3 during which the first transaction with Rafidain Bank and Rasheed Bank was made. 

A new card is very convenient in use and can be used for making various payment operations including loading of wages and grants and cash dispensing. 

"From the entire team at Net1, we congratulate the Iraqi consortium on this historic achievement and look forward to the successful implementation of the various projects already identified for implementation, as well as the projects currently in business development. Net1 is proud that the development of its core technology, from which it creates end-user products that satisfy the requirements of its customers, can change the way business is conducted leading to the improvement of people's lives. We share the belief of our Iraqi partners that our technology can play a fundamental role in the upliftment of the economy. The success of any technology should be measured, not only by the profits it generates for its inventors, suppliers and users, but also by the difference that it makes to the lives of people," said Brenda Stewart, Net1 Senior Vice President Sales and Marketing.