Exhibit 99.1

Net 1 UEPS Technologies, Inc. Reports 2014 Fourth Quarter and Full Year Results

JOHANNESBURG, August 28, 2014 – Net 1 UEPS Technologies, Inc. (Nasdaq: UEPS; JSE: NT1) today released results for the fourth quarter and full-year fiscal 2014.

Summary Financial Metrics

(1) Fundamental net income and earnings per share are non-GAAP measures and are described below under “Use of Non-GAAP Measures—Fundamental net income and fundamental earnings per share.” See Attachment B for a reconciliation of GAAP net income to fundamental net income and earnings per share.

Factors impacting comparability of our Q4 2014 and Q4 2013 results

• Unfavorable impact from the strengthening of the US dollar against the ZAR: The US dollar appreciated by 13% against the ZAR during Q4 2014, which negatively impacted our reported results;
• $26.6 million recovery of expenses and 2013 implementation costs: Our SASSA contract implementation is complete. In Q4 2014, we received approximately $26.6 million, or approximately $19.1 million, net of tax, from SASSA related to the recovery of additional implementation costs incurred during the beneficiary re-registration process in fiscal 2012 and 2013. Q4 2013 results include implementation-related expenditure, including smart card costs, of approximately $9.0 million;
• Fair value charge resulting from issue of equity instruments pursuant to BEE transactions: The fair value non- cash charge of $11.3 million related to our BEE transactions adversely impacted our reported results during Q4 2014;
• Increased contribution by KSNET: Our results were positively impacted by growth in our South Korean operations;
• Growth in financial services: The expansion of our financial services offering resulted in higher year-over-year revenue and operating income from UEPS-based lending during Q4 2014;
• Ad hoc hardware sales in fiscal 2014: We sold more terminals and cards during Q4 2014 as a result of ad hoc orders received from our customers; and
• Higher revenue resulting from an increase in low-margin prepaid airtime and electricity sales: Our revenue has increased as a result of the growth of our prepaid airtime offering during Q4 2014, which has lower margins compared with our other South African businesses.

Comments and Outlook

“Our results once again demonstrate our ability to implement large and complex national projects efficiently, and to rationalize our cost structure in order to drive margin improvement. We can achieve such results due to our superior technological solutions and their ability to adapt seamlessly to the ever-changing needs of our markets and our customers. More importantly, we have been able to focus our attention on our growth strategy targeting international markets. This strategy is mobile- and payment-centric, and is designed to deliver solutions that incorporate a number of “killer” applications in the space of money transfers, loyalty programs, electronic wallets and secure CNP payments,” said Dr. Serge Belamant, Chairman and CEO of Net1. “Our new streamlined operational teams are ready for significant expansion not only locally but globally as well. This new focused approach will allow us to diversify our risk profile from a geographical, currency and customer point of view. I am delighted with our personnel and their commitments, and strongly believe that we are now entering a period of sustained growth that will result in continued shareholder value creation,” he concluded.

“I am proud of our financial achievements in fiscal 2014, which have provided the catalyst for our expected growth trajectory in fiscal 2015,” said Herman Kotzé, Chief Financial Officer of Net1. “For fiscal 2015, we expect fundamental earnings per share of at least $1.92, assuming a constant currency base of ZAR 10.40/ $1 and a share count of 46 million shares. Our fiscal 2014 fundamental earnings per share included approximately $0.40 related to the recovery of our SASSA implementation costs, which will not recur in fiscal 2015,” he concluded.

Transactions in preparation for any new potential SASSA tender

On August 27, 2014, we entered into a sale and subscription agreement with Business Venture Investments No 1567 (Proprietary) Limited (RF) (“BVI”), one of our BEE partners, in preparation for any new potential SASSA tender. Pursuant to the sale and subscription agreement: (i) we repurchased BVI’s remaining 1,837,432, shares of Net1 common stock for approximately $9.2 million in cash (translated at exchange rates prevailing as of August 27, 2014) and (ii) BVI has subscribed for new ordinary shares of CPS representing approximately 12.5% of CPS’ ordinary shares outstanding after the subscription for $1.4 million in cash (translated at exchange rates prevailing as of August 27, 2014). In connection with transactions described above, the CPS shareholder agreement that was negotiated as part of the original December 2013 Relationship Agreement became effective.

Change to internal reporting structure and restatement of previously reported information

In June 2014 we streamlined our operating structure and accordingly our reporting segments have been consolidated from five to three: South African transaction processing, International transaction processing and Financial inclusion and applied technologies. Previously reported information has been restated. For further information refer to Note 23 to our 2014 annual financial statements contained in our report on Form 10-K filed with the United States Securities and Exchange Commission on August 28, 2014. Attachment D presents our quarterly operating segment revenue and operating income results for fiscal 2014, 2013 and 2012.

Results of Operations by Segment and Liquidity

Our operating metrics will be updated and posted on our website (www.net1.com).

     South African transaction processing

The South African transaction processing segment consists mainly of pension and welfare benefit distribution services provided to the South African government, and transaction processing for retailers, utilities, medical-related claim service customers and banks.

Segment revenue was $88.3 million in Q4 2014, up 52% compared with Q4 2013 in USD and up 72% on a constant currency basis. In ZAR, increase in segment revenue was primarily due to the recovery of $26.6 million in implementation costs related to our SASSA contract and more low-margin transaction fees generated from beneficiaries using the South African National Payment System. Segment operating income margin was 44% and (0)%, respectively, and increased primarily due to the recovery of SASSA implementation costs. Segment operating income margin excluding the recovery of implementation costs was 20% for Q4 2014.

     International transaction processing

     The International transaction processing segment consists mainly of payment processing services to merchants and card issuers in South Korea. The segment also generates transaction fee revenue from transaction processing of UEPS-enabled smartcards in Botswana and transaction processing of medical-related claims in the United States. KSNET contributes the majority of our revenues and operating income in this segment. Segment revenue was $42.2 million in Q4 2014, up 17% compared with Q4 2013 in USD and 32% on a constant currency basis. Revenue increased primarily due to increased transaction processing activities in South Korea during Q4 2014. Operating income in Q4 2014 was higher due to an increase in revenue contribution from KSNET, which was partially offset by ongoing losses related to our XeoHealth launch in the United States, as well as ongoing competition in the South Korean marketplace. Segment operating income margin in Q4 2014 and Q4 2013 was 16% and 15%, respectively.

     Financial inclusion and applied technologies

The Financial inclusion and applied technologies segment includes our smart card accounts, lending and life insurance businesses. This segment also includes the economics from merchants and card holders using our merchant acquiring system, the sale of prepaid products (electricity and airtime) and the sale of hardware and software.

Segment revenue was $64.1 million in Q4 2014, up 116% compared with Q4 2013 in USD and 146% on a constant currency basis, and increased primarily due to higher mobile-based prepaid airtime sales, an increase in the number of UEPS-based loans as we rolled out our product nationally, an increase in intersegment revenues and more ad hoc terminal and smart card sales. Segment operating income margin was 28% and 48%, respectively, and decreased primarily as a result of more low-margin prepaid airtime and hardware sales.

     Corporate/eliminations

Corporate/eliminations includes our head office cost center, the amortization of acquisition-related intangible assets and once-off events, including in 2014, the equity instrument charges related to our BEE transactions, and the net loss for the deconsolidation of subsidiaries and businesses.

The increase in our corporate expenses resulted primarily from the non-cash charge related to the equity instruments issued pursuant to our BEE transactions, increases in general corporate audit fees, executive emoluments and other corporate head office-related expenses, all of which were partially offset by lower US government investigation and US lawsuit expenses.

     Cash flow and liquidity

At June 30, 2014, we had cash and cash equivalents of $58.7 million, up from $53.7 million at June 30, 2013. The increase in our cash balances from June 30, 2013, was primarily due to higher cash generated from our core business and the recovery of implementation costs from SASSA, which was partially offset by higher corporate tax payments, the expansion of our UEPS-based lending business, acquisition of terminals to maintain and expand our South Korean business activities, the repayment of a portion of our South Korean debt and acquisition of substantially all of the remaining shares of KSNET that we did not already own.

Excluding the impact of interest received, interest paid under our South Korean debt, taxes and recovery of implementation costs from SASSA, the decrease in cash from operating activities resulted from the expansion of our UEPS-based lending book, offset by cash inflows from improved trading activity and the substantial elimination of implementation costs in fiscal 2014. Capital expenditures for Q4 2014 and 2013 were $6.6 million and $5.6 million, respectively, and have increased primarily due to the acquisition of more payment processing terminals in South Korea.

Use of Non-GAAP Measures

US securities laws require that when we publish any non-GAAP measures, we disclose the reason for using the non-GAAP measure and provide reconciliation to the directly comparable GAAP measure. The presentation of fundamental net income and fundamental earnings per share and headline earnings per share are non-GAAP measures.

     Fundamental net income and fundamental earnings per share

Fundamental net income and earnings per share is GAAP net income and earnings per share adjusted for (1) the amortization of acquisition-related intangible assets (net of deferred taxes), (2) stock-based compensation charges and (3) unusual non-recurring items, including the amortization of KSNET debt facility fees, transaction-related costs and US government investigations-related and US lawsuit expenses; as well as in fiscal 2014, the equity instruments charged related to our December 2013 BEE transactions and the net loss on deconsolidation of subsidiaries and business, net of tax. Management believes that the fundamental net income and earnings per share metric enhances its own evaluation, as well as an investor’s understanding, of our financial performance. Attachment B presents the reconciliation between GAAP and fundamental net income and earnings per share.

     Headline earnings per share (“HEPS”)

The inclusion of HEPS in this press release is a requirement of our listing on the JSE. HEPS basic and diluted is calculated using net income which has been determined based on GAAP. Accordingly, this may differ to the headline earnings per share calculation of other companies listed on the JSE as these companies may report their financial results under a different financial reporting framework, including but not limited to, International Financial Reporting Standards.

HEPS basic and diluted is calculated as GAAP net income adjusted for the profit on sale of property, plant and equipment, and, in 2014, the net loss on deconsolidation of subsidiaries and asset group, net of related tax effects. Attachment C presents the reconciliation between our net income used to calculate earnings per share basic and diluted and HEPS basic and diluted and the calculation of the denominator for headline diluted earnings per share.

Conference Call

We will host a conference call to review Q4 2014 results on August 29, 2014, at 8:00 Eastern Time. To participate in the call, dial 1-855-481-5362 (US and Canada), 0808-162-4061 (U.K. only) or 0-800-200-648 (South Africa only) ten minutes prior to the start of the call. Callers should request “Net1 call” upon dial-in. The call will also be webcast on the Net1 homepage, www.net1.com. Please click on the webcast link at least ten minutes prior to the call. A webcast of the call will be available for replay on the Net1 website through September 21, 2014.

Fiscal 2015 earnings call dates

We expect to host quarterly conference calls to review our fiscal 2015 quarterly results in accordance with the schedule provided in the table below:

The dates provided above are tentative and we will confirm the final dates and dial-in details closer to the quarterly conference call date.

About Net1 (www.net1.com)

Net1 is a leading provider of alternative payment systems that leverage its Universal Electronic Payment System (“UEPS”), to facilitate biometrically secure, real-time electronic transaction processing to unbanked and under-banked populations of developing economies around the world in an online or offline environment. Net1's UEPS/EMV solution is interoperable with global EMV standards that seamlessly permit access to all the UEPS functionality in a traditional EMV environment. In addition to payments, UEPS can be used for banking, healthcare management, payroll, remittances, voting and identification.

Net1 operates market-leading payment processors in South Africa and the Republic of Korea. In addition, Net1's proprietary MVC technology offers secure mobile payments and banking services in developed and emerging countries.

Net1 has a primary listing on NASDAQ and a secondary listing on the Johannesburg Stock Exchange.

Forward-Looking Statements

This announcement contains forward-looking statements that involve known and unknown risks and uncertainties. A discussion of various factors that cause our actual results, levels of activity, performance or achievements to differ materially from those expressed in such forward-looking statements are included in our filings with the Securities and Exchange Commission. We undertake no obligation to revise any of these statements to reflect future events.

Investor Relations Contact:
Dhruv Chopra
Head of Investor Relations
Phone: +1 917-767-6722
Email: dchopra@net1.com

NET 1 UEPS TECHNOLOGIES, INC.
Consolidated Statements of Operations

(A) – Derived from audited financial statements

NET 1 UEPS TECHNOLOGIES, INC.
Consolidated Balance Sheets

(A) – Derived from audited financial statements

NET 1 UEPS TECHNOLOGIES, INC.
Consolidated Statements of Cash Flows

(A) – Derived from audited financial statements

Net 1 UEPS Technologies, Inc.

Attachment A

Operating segment revenue, operating income and operating margin:

Three months ended June 30, 2014 and 2013 and March 31, 2014

(1) – This information shows what the change in these items would have been if the USD/ ZAR exchange rate that prevailed during the fourth quarter of fiscal 2014 also prevailed during the fourth quarter of fiscal 2013 and the third quarter of fiscal 2014.

Year ended June 30, 2014 and 2013

(1) – This information shows what the change in these items would have been if the USD/ ZAR exchange rate that prevailed during fiscal 2014 also prevailed during fiscal 2013.

Net 1 UEPS Technologies, Inc.

Attachment B

Reconciliation of GAAP net income and earnings per share, basic, to fundamental net income and earnings per share, basic:

Three months ended June 30, 2014 and 2013

Year ended June 30, 2014 and 2013

Net 1 UEPS Technologies, Inc.

Attachment C

Reconciliation of net income used to calculate earnings per share basic and diluted and headline earnings per share basic and diluted:

Three months ended June 30, 2014 and 2013

Year ended June 30, 2014 and 2013

Calculation of the denominator for headline diluted earnings per share

Weighted average number of shares used to calculate headline earnings per share diluted represent the denominator for basic weighted-average common shares outstanding and unvested restricted shares expected to vest plus the effect of dilutive securities under GAAP. We use this number of fully-diluted shares outstanding to calculate headline earnings per share diluted because we do not use the two-class method to calculate headline earnings per share diluted.

Net 1 UEPS Technologies, Inc.

Attachment D

Presentation of quarterly revenue and operating income by segment for fiscal 2012 to 2014

     The tables below present quarterly revenue and operating income generated by our three reportable segments for the fiscal 2014, 2013 and 2012, and reconciliations to consolidated revenue and operating income (loss), as well as the US dollar/ ZAR exchange rates applicable per fiscal quarter and year: