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1 Merchant Place Cnr Fredman Dr & Rivonia Rd Sandton 2196 Exhibit 10.46 PO Box
786273 Sandton 2146 South Africa   Switchboard +27 11 282-8000   Facsimile +27
11 282-8008   www.rmb.co.za       Reg. No. 1929/001225/06   An Authorised
Financial Services Provider [exhibit10-46x1x1.jpg]

To: NET1 APPLIED TECHNOLOGIES SOUTH AFRICA PROPRIETARY LIMITED   Sixth Floor  
President Place   Corner of Jan Smuts Avenue and Bolton Road   Rosebank, 2196

  Email: hermank@net1.com   Attention: Herman Kotze

From:

FIRSTRAND BANK LIMITED (ACTING THROUGH ITS RAND MERCHANT BANK DIVISION) (in its
capacity as Facility Agent under the CTA (defined below))

15 November, 2016

Dear Sirs,

NET1 APPLIED TECHNOLOGIES SOUTH AFRICA PROPRIETARY LIMITED
SENIOR TERM LOAN FACILITIES

1.

BACKGROUND

1.1

We refer to the common terms agreement dated on or about 20 October, 2016
between, amongst others, Net1 Applied Technologies South Africa Proprietary
Limited (the Company) and FirstRand Bank Limited (acting through its Rand
Merchant Bank division) (as original senior lender, mandated lead arranger and
the facility agent) (the Agreement).

    1.2

This letter is supplemental to and amends the Agreement pursuant to clause 37
(Amendments and waivers) of the Agreement.

    1.3

Pursuant to the Intercreditor Agreement, the Majority Lenders have consented to
the amendments to the Agreement contemplated by this letter. Accordingly, we are
authorised to execute this letter on behalf of the Finance Parties.

2.

INTERPRETATION

2.1

Capitalised terms defined in the Agreement have the same meaning when used in
this letter unless expressly defined in this letter.

 \   2.2

The provisions of clause 1.3 (Construction) of the Agreement apply to this
letter as though they were set out in full in this letter except that references
to the Agreement are to be construed as references to this letter.

Directors: LL Dippenaar (Chairman) JP Burger (Chief Executive Officer) VW
Bartlett JJH Bester MS Bomela P Cooper (Alternate) L Crouse JJ Durand GG Gelink
PM Goss NN Gwagwa PK Harris WR Jardine HS Kellan EG Matenge-Sebesho AT Nzimande
D Premnarayen (India) KB Schoeman BJ van der Ross JH van Greuning Company
Secretary: C Low

RMB Divisional Board: JP Burger (Chairman) J Formby (Chief Executive Officer) M
Davias (Chief Financial Officer) P Dos Santos (Chief Technology and Operations
Officer) G Kruger (Chief Risk Officer) ME Oberholster (Chief Investment Officer)
LL Dippenaar DA Frankel PM Goss RP Gouws A Perold MW Pfaff R Loubser CN Mapure F
Knoetze

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2.3

In this letter, Effective Date means the date on which the Facility Agent
notifies the Company that it has received a copy of this letter countersigned by
each Obligor.

3.

AMENDMENTS

3.1

The Agreement will be amended on and with effect from the Effective Date in
accordance with paragraph 3.2 below.

    3.2

The Agreement will be amended as follows:

3.2.1

clause 1.1.14 (Definitions) of the Agreement will be deleted in its entirety and
replaced with the following new clause 1.1.14:

  "1.1.14 Bank Guarantee Expiry Date means 28 February, 2017;"

3.2.2

clause 1.1.67 (Definitions) of the Agreement will be deleted in its entirety and
replaced with the following new clause 1.1.67:

  "1.1.67 Longstop Date means 28 February, 2017;"

3.2.3

the date in clause 1.2.7(a) (Financial definitions) of the Agreement will be
deleted in its entirety and replaced with the date: "31 March, 2017";

    3.2.4

Schedule 6 (Form of Bank Guarantee) of the Agreement will be deleted in its
entirety and replaced with the new Schedule 6 (Form of Bank Guarantee) set out
in Appendix 1 to this letter.

4.

REPRESENTATIONS

   

Each Obligor confirms to each Finance Party that on the date of this letter and
on the Effective Date, all the representations and warranties set out in this
clause 22 of the Agreement:

4.1

are true; and

    4.2

would also be true if references to the Agreement were construed as references
to the Agreement as amended by this letter.

Each representation and warranty is applied to the circumstances existing at the
time the representation and warranty is made.

    5.

GUARANTEE AND SECURITY CONFIRMATION

5.1

Each Guarantor confirms that, notwithstanding the amendments to the Agreement
effected by this letter, the guarantee and indemnity given under the Agreement
continues in full force and effect and extends to, and operates as an effective
unconditional guarantee of all present and future obligations and liabilities of
each Obligor under the Finance Documents.

    5.2

Each Obligor confirms that, notwithstanding the amendments to the Agreement
effected by this letter, the liabilities and obligations arising under the
Agreement, as amended, shall form part of (but not be limited to) the Security
created under the Security Agreements to which that Obligor is party to secure
any obligation of any Obligor to a Finance Party under the Finance Documents.

RAND MERCHANT BANK   Page 2

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6.

MISCELLANEOUS

6.1

This letter is a Finance Document.

    6.2

From the Effective Date, the Agreement and this letter will be read and
construed as one document.

    6.3

Except as expressly otherwise provided in this letter, no amendment, variation
or change is made to any Finance Document and all the Finance Documents remain
in full force and effect in accordance with their terms.

    6.4

Except to the extent expressly waived in this letter, no waiver of any provision
of any Finance Document is given by the terms of this letter and the Finance
Parties expressly reserve all their rights and remedies in respect of any breach
of, or other Default under, the Finance Documents.

7.

COUNTERPARTS

   

This letter may be executed in any number of counterparts, each of which when
executed shall constitute a duplicate original, but all the counterparts
together shall constitute one letter. Delivery of an executed scanned
counterpart of a signature page of this letter by e-mail shall be effective as
delivery of an original executed counterpart hereof.

    8.

GOVERNING LAW

   

This letter is governed by the laws of South Africa.

If you agree to the above, please sign where indicated below.

Yours sincerely,

FIRSTRAND BANK LIMITED (ACTING THROUGH ITS RAND MERCHANT BANK DIVISION)
(in its capacity as Facility Agent)

By:

/s/ John Ehlers ____________________________ /s/ Ziyaad Manie     Name: John
Ehlers Name: Ziyaad Manie         Date: November 16, 2016 Date: November 16,
2016

RAND MERCHANT BANK   Page 3

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We agree to the above.

NET1 APPLIED TECHNOLOGIES SOUTH AFRICA PROPRIETARY LIMITED

By:

/s/ Herman G. Kotzé   (who warrants his authority)   Name: Herman G. Kotzé    
Date: November 15, 2016

NET1 UEPS TECHNOLOGIES, INC By:       /s/ Herman G. Kotzé   (who warrants his
authority)   Name: Herman G. Kotzé     Date: November 15, 2016

CASH PAYMASTER SERVICES PROPRIETARY LIMITED By:       /s/ Herman G. Kotzé   (who
warrants his authority)   Name: Herman G. Kotzé     Date: November 15, 2016

RAND MERCHANT BANK   Page 4

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EASYPAY PROPRIETARY LIMITED By:       /s/ Herman G. Kotzé   (who warrants his
authority)   Name: Herman G. Kotzé     Date: November 15, 2016

MANJE MOBILE ELECTRONIC PAYMENT SERVICES PROPRIETARY LIMITED By:       /s/
Herman G. Kotzé   (who warrants his authority)   Name: Herman G. Kotzé     Date:
November 15, 2016

MONEYLINE FINANCIAL SERVICES PROPRIETARY LIMITED By:       /s/ Herman G. Kotzé  
(who warrants his authority)   Name: Herman G. Kotzé     Date: November 15, 2016

RAND MERCHANT BANK   Page 5

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NET1 FIHRST HOLDINGS PROPRIETARY LIMITED By:       /s/ Herman G. Kotzé   (who
warrants his authority)   Name: Herman G. Kotzé     Date: November 15, 2016

NET1 FINANCE HOLDINGS PROPRIETARY LIMITED By:       /s/ Herman G. Kotzé   (who
warrants his authority)   Name: Herman G. Kotzé     Date: November 15, 2016

NET1 MOBILE SOLUTIONS PROPRIETARY LIMITED By:       /s/ Herman G. Kotzé   (who
warrants his authority)   Name: Herman G. Kotzé     Date: November 15, 2016

RAND MERCHANT BANK   Page 6

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NET1 UNIVERSAL ELECTRONIC TECHNOLOGICAL SOLUTIONS PROPRIETARY LIMITED By:      
/s/ N Pillay     (who warrants his authority)     Name: N Pillay     Date:
Director

PRISM HOLDINGS PROPRIETARY LIMITED By:       /s/ Herman G. Kotzé   (who warrants
his authority)   Name: Herman G. Kotzé     Date: November 15, 2016

PRISM PAYMENT TECHNOLOGIES PROPRIETARY LIMITED By:       /s/ Herman G. Kotzé  
(who warrants his authority)   Name: Herman G. Kotzé     Date: November 15, 2016

RAND MERCHANT BANK   Page 7

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RMT SYSTEMS PROPRIETARY LIMITED By:       /s/ Herman G. Kotzé   (who warrants
his authority)   Name: Herman G. Kotzé     Date: November 15, 2016

RAND MERCHANT BANK   Page 8

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