A Difficult Begining For Serge Belamant.

Serge Belamant had a very difficult time getting his business started like most people do who try to gain success on their own. Starting a company is no easy task especially when you are trying to promote a product for people to buy that is not well known. Serge Belamant had little success with his customer base, and getting banks to use his patent Universal Electronic Payment System.

It was around 1995, when Serge began to see success. Serge’s company Net1 Technologies was hired by Visa. This new opportunity allowed Serge to move to America. In America, the land of opportunity, Serge was able to once again excel with his skills. With his knowledge he was able to invent a new application using FTS/UEPS technology. Inventing a new application was the project that Visa hired him to do.

Serge Belamant invented the Chip Offline Pre-authorized Card, or (COPAC). He was able to do this by utilizing his FTS/UEPS technology. This technology is used to prevent fraud, and the misuse of credit. The invent of the COPAC is also used to verify personal identification numbers. The COPAC is a primary secure feature for Visa, and still is today. Net1 Technologies was listed on the Johannesburg Stock Exchange when Serge Belamant returned to the RSA.

In need of modernization in paying out grants, Net1 Technologies was able to find success again in 1999 when it purchased Cash Payment Services (CPS). Within the RSA, CPS was a system that paid welfare grants. This system would be upgraded when Net1 Technologies bought it from the First National Bank of South Africa. The purpose was to pay out grants to more than 1 million South Africans. Speed, security, and interoperability within the CPS was implemented using the UEPS provided by Net1 Technologies Company. Serge would also find success in the following years to come.

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