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In November of 2001, Net1 was awarded two (2) national tenders by the Reserve Bank of Malawi to implement our solution as a national payment, switching and smart card system. Malawi was the first country worldwide to use the UEPS technology in a national switching environment with the identification option being the biometric fingerprint methodology. The system provides solutions for both the banked and un-banked segments of Malawi.
Participating in the system are five (5) financial institutions, retail merchants and BP (a bulk fuel supplier in Malawi utilizing the BP UEPS Fuel Application), as well as government ministries and other employers who utilizes the Wage Payment System to pay salaries and wages onto the smart cards of their employees.
Current Net1 applications launched and operational in Malawi are:
- Salary/Wages
- Banking
- Retail
- Money Transfers
- 3rd Party Deductions
- Fuel
- E-Voucher System
Malawi is currently operating on our UEPS Version 10 System.
Malswitch has recently been awarded the tender from the Malawi Rural Finance Company in Malawi, a micro-financier company providing affordable loans in the rural areas.
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