SA Constitutional Court Rules SASSA Contract Award as Invalid

Net 1 UEPS Technologies Inc. has announced that the South African Constitutional Court ruled that the tender process followed by the South African Social Security Agency (“SASSA”) in awarding a contract to Net1’s wholly owned subsidiary Cash Paymaster Services (“CPS”) was constitutionally invalid. However, the Constitutional Court suspended its declaration of invalidity pending determination of

SASSA MasterCard Debit Card Boosts Financial Inclusion

Following the 10 million South Africa Social Security Agency (SASSA) MasterCard Debit card milestone announcement, an independent consumer survey has attributed this program as being one of the largest contributors to increasing financial inclusion in South Africa. According to FinScope South Africa 2013, South Africa’s banked population has grown 8% since 2012, with 75% (27.4

South African Social Security Agency to Pay Social Grants in-House

SASSA will be able to pay social grants in-house, as directed by the SASSA Act, (Act no 9 of 2004) as from 2017, after expiry of the South African Social Security Agency (SASSA) contract with Cash Paymaster Services (CPS), which is currently responsible for disbursing social grants. To achieve that, the Minister of social Development,

Ten Million SASSA MasterCard Cards Issued to South African Social Grant Beneficiaries

MasterCard and the South African Social Security Agency (SASSA) announced that there are 10 million active SASSA Debit MasterCard cards in South Africa, following the introduction of the new biometric grant payment disbursement system that commenced in March 2012. This milestone marks the conclusion of the re-registration phase of the project, with social grant beneficiaries