The group's principal activity is to commercialize the smart card based universal electronic payment system. It commercializes the universal electronic payment system through the development of strategic alliances with national and international bank, card service or retail organizations. The ueps is a software application that utilizes fund transfer system. The group also licenses entities that will operate specific applications that use fts intellectual property or the combined fts/ueps payment system. The group is a development stage company. On 07-Jun-2004, the group acquired net 1 applied technology holdings limited.
