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Exhibit 10.48

AMENDMENT NO. 2 TO STOCK PURCHASE AGREEMENT

Amendment No. 2 dated November 16, 2016 (this “Amendment”) to Stock Purchase
Agreement, dated as of October 5, 2016 and as amended on November 3, 2016 (the
“Agreement”), by and between Net 1 UEPS Technologies, Inc., a Florida
corporation (the “Company”) and N2 Partners Ltd., a Bahamian corporation
(“Purchaser”).

WHEREAS, the Company and Purchaser desire to further amend the Agreement to
change the date of closing.

NOW, THEREFORE, in consideration of the covenants and agreements set forth
herein, the Company and Purchaser hereby agree as follows:

1.          Change of Date of Closing. Section 2 of the Agreement is hereby
amended to provide that the date of Closing (as defined in the Agreement) shall
occur on the earlier of (i) a date to be specified by the Company in writing to
Purchaser which date shall be no earlier than January 23, 2017, and no later
than February 28, 2017; provided however, that such date must be at least five
business days after such notice is delivered; and (ii) a date to be specified by
the Purchaser in writing to the Company which date shall be no earlier than
January 23, 2017, and no later than February 28, 2017; provided however, that
such date must be at least five business days after such notice is delivered.

2.          No Further Changes. Except as amended hereby, the terms and
conditions of the Agreement shall remain unchanged

3.          Governing Law. This Amendment shall be governed by and construed in
accordance with the laws of the State of New York.

4.          Counterparts. This Amendment may be executed in any number of
counterparts, each of which when so executed and delivered shall be deemed to be
an original and all of which together shall be deemed to be one and the same
agreement.

IN WITNESS WHEREOF, the undersigned have executed this Amendment on the date
first written above.

NET 1 UEPS TECHNOLOGIES, INC.

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

N2 PARTNERS LTD.

By: /s/ WND Limited
WND Limited
Director

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