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EXHIBIT 10.50

AMENDMENT TO THE
NET 1 UEPS TECHNOLOGIES, INC.
RESTRICTED STOCK AGREEMENT
FOR NON-U.S. EMPLOYEES

          THIS AMENDMENT is dated March 18, 2010, and is between NET 1 UEPS
TECHNOLOGIES, INC., a Florida corporation (the “Company”), and HERMAN KOTZÉ (the
“Participant”).

          The parties entered into the Net 1 UEPS Technologies, Inc. Restricted
Stock Agreement for Non-U.S. Employees, effective as of August 7, 2007 (the
“Agreement”). The Agreement evidences the award of 40,000 restricted shares of
Company common stock, par value $0.001 per share, under the Amended and Restated
2004 Stock Incentive Plan of Net 1 UEPS Technologies, Inc. The restricted shares
vest ratably on September 1 of 2009, 2010, and 2011, based on the Participant’s
continued service to the Company through the applicable vesting date and a 25%
increase, compounded annually, in fundamental earnings per share (diluted)
(expressed in South African rand) (defined in the Agreement as “Fundamental
EPS”) for the 2009, 2010, and 2011 fiscal years.

          One-third of the restricted shares vested on September 1, 2009, after
the Remuneration Committee of the Board of Directors of the Company used its
discretion to determine that the Fundamental EPS target was met for the fiscal
year ending June 30, 2009, after accounting for unusual and non-recurring
events. On November 5, 2009, the Board of Directors of the Company, upon
recommendation of the Remuneration Committee, determined to amend the award such
that the Fundamental EPS target is 20% for the remaining two tranches of
restricted shares that are scheduled to vest, if at all, on September 1 of 2010
and 2011. No consent of the Participant is required for the amendment under
section 10.3 of the Agreement because the modification would have no materially
adverse effect on the restricted shares. Nevertheless, the parties desire to
formally adopt this Amendment to memorialize the action of the Board of
Directors of the Company on November 5, 2009.

          CONSEQUENTLY, in consideration for the promises contained herein, and
other good and valuable consideration, the receipt and sufficiency of which
consideration is hereby acknowledged, the parties agree to amend the Agreement,
effective as of November 5, 2009, as follows:

          1.           Section 2(c) is hereby amended by revising the second
sentence of that section to read as follows (revisions marked):

> > Specifically, the financial performance targets set forth in the table are
> > based on a 25%20% increase, compounded annually, in fundamental earnings per
> > share (diluted) (expressed in South African rand) (referred to hereafter as
> > “Fundamental EPS”) above the Fundamental EPS for the fiscal year ended June
> > 30, 2007.

          2.           In all other respects, the Agreement is hereby ratified
and confirmed.

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[Signature page follows.]

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          The parties are signing this Amendment as of the date stated in the
introductory clause. This Amendment may be executed in two or more counterparts,
each being an original and all of which, when taken together, shall be deemed
one instrument.

NET 1 UEPS TECHNOLOGIES, INC.

  By: /s/ Serge C. P. Belamant     Dr. Serge C.P. Belamant     Chairman and
Chief Executive Officer

/s/ Herman Kotzé

HERMAN KOTZÉ

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