Filed by sedaredgar.com - Net1 UEPS Technologies, Inc. - Exhibit 10.49






     Exhibit 10.49 

CONFIDENTIAL TREATMENT
REQUESTED PURSUANT TO RULE
24b-2

Certain portions of this exhibit have been omitted pursuant
to a request for confidential treatment under Rule 24b-2 under the Securities
Exchange Act of 1934. The omitted materials have been filed separately with the
Securities and Exchange Commission. 

INTERIM AGREEMENT ENTERED INTO BETWEEN SASSA AND CASH
PAYMASTER SERVICES (PROPRIETARY) LIMITED (‘CPS’) (‘THE PARTIES’) 

Preamble: 

Whereas there are a number of existing Service Level Agreements
(‘SLAs’) between the South African Social Security Agency (‘SASSA’) and a number
of NetlApplied Technologies South Africa Limited’s subsidiaries, for the payment
of grant beneficiaries in the following provinces: Kwa-Zulu Natal, Limpopo,
Northern Cape, North West and a portion of the Eastern Cape (‘the Provinces’);


Whereas the SLAs are terminating on 31 March 2009 and the
Parties realise the need for continued payment of social grants to beneficiaries
in the Provinces; 

Whereas the Parties are desirous to eventually enter into an
agreement which will consolidate all the agreements concluded in respect of each
Province into one agreement (‘the consolidated agreement’) and which agreement
will supersede this Agreement; 

Therefore, the Parties agree as follows: 

	1. 	
      CPS is appointed to render the grant payment services
      specified in and in accordance with the SLAs in the Provinces with effect
      from 1st April 2009 to 31st March 2010;

	 	 
	2. 	
      the Parties agree that pending the conclusion of the
      consolidated agreement, all the terms and conditions contained in the SLAs
      shall apply equally herein to each Province in respect of which the
      applicable SLA has been concluded and shall be incorporated herein as if
      specifically recorded save as amended hereby;

	 	 
	3. 	
      CPS agrees to invoice SASSA on a cost per recipient basis
      in all its Provinces in accordance with Annexure A. Such a
      modification must result in the lowering of the overall fees payable by
      SASSA to CPS;



[***] Confidential information has been omitted and filed
separately with the Securities and Exchange Commission pursuant to a
confidential treatment request. 




     CONFIDENTIAL TREATMENT

REQUESTED PURSUANT TO RULE 24b-2

Certain portions of this exhibit have been omitted pursuant
to a request for confidential treatment under Rule 24b-2 under the Securities
Exchange Act of 1934. The omitted materials have been filed separately with the
Securities and Exchange Commission. 

Page 2 

	4. 	
      SASSA confirms that the grant recipient number is [***]
      ([***]) as specified in the SOCPEN payment file for the month of December
      2008. This number shall be the guaranteed recipient baseline for the
      purposes of this Agreement and the consolidated agreement;

	 	 
	5. 	
      subject to the provisions of paragraph 4, the Parties
      agree that any additional grant recipient numbers in excess of the
      guaranteed recipient baseline shall result in CPS reducing the service fee
      to be charged to SASSA in accordance with the formula contained in
      Annexure A attached hereto;

	 	 
	6. 	
      the Parties agree to negotiate in good faith and
      endeavour to conclude the consolidated agreement by no later than
      30th April 2009;

	 	 
	7. 	
      SASSA agrees that CPS will no longer be required to
      contribute to the Social Responsibility Funds (RDP);

	 	 
	8. 	
      SASSA agrees to pre-fund grant payments in all Provinces
      and to advance such funds to CPS at least 48 (forty-eight) hours prior to
      the commencement of the applicable payment cycle effective from the May
      2009 payment cycle. Furthermore, CPS undertakes to refund SASSA on all
      interest earned on the amount pre-funded to CPS;

	 	 
	9. 	
      this Agreement is binding between the Parties up until
      such time that the Parties sign the consolidated agreement. The Parties
      agree that failure to conclude the consolidated agreement shall not affect
      the validity of this Agreement;

	 	 
	10. 	
      if any provision contained in the SLAs is inconsistent
      with the provisions of the Public Finance Management Act No 1 of 1999, the
      SASSA Act No 9 of 2004 and the Social Assistance Act No 13 of 2004, then
      in such an event such provision shall be deemed severable from the
      remainder of this Agreement provided that should such occurrence has a
      material negative effect on CPS net income. In the event that the Parties
      disagree whether or not the effect is material then, in such event, the
      matter shall be referred to an independent subject matter expert (agreed
      to by the Parties) who shall determine whether



[***] Confidential information has been omitted and filed
separately with the Securities and Exchange Commission pursuant to a
confidential treatment request. 




     CONFIDENTIAL TREATMENT

REQUESTED PURSUANT TO RULE 24b-2

Certain portions of this exhibit have been omitted pursuant
to a request for confidential treatment under Rule 24b-2 under the Securities
Exchange Act of 1934. The omitted materials have been filed separately with the
Securities and Exchange Commission. 

Page 3 

		
      or not such negative effect is material. If the Parties
      fail to agree on the subject matter expert, then same shall be appointed
      by TOKISO or its assignees or successors-in-title. The decision of the
      subject matter expert is final and binding upon the Parties;

	 	 
	11. 	
      Parties agree that the consolidated agreement will not
      contain any terms or conditions which are inconsistent with the
      legislation specified in paragraph 10; and

	 	 
	12. 	
      CPS agrees to standardise service fees payable by SASSA
      to CPS across all Provinces.



[***] Confidential information has been omitted and filed
separately with the Securities and Exchange Commission pursuant to a
confidential treatment request. 




     CONFIDENTIAL TREATMENT

REQUESTED PURSUANT TO RULE 24b-2

Certain portions of this exhibit have been omitted pursuant
to a request for confidential treatment under Rule 24b-2 under the Securities
Exchange Act of 1934. The omitted materials have been filed separately with the
Securities and Exchange Commission. 

Page 4 

THUS SIGNED AT SANDTON ON THIS 25TH DAY OF MARCH 2009.


Witnesses: 

	1./s/ Bandile
      Maqetuka 	 	FEZILE MAKIWANE 
	Name: Bandile Maqetuka 	 	Chief Executive Officer, 
	  	 	South African Social Security Agency 
	  	 	 /s/ Fezile Makiwane 
	  	 	  
	2. /s/ Mazwi Yako
    	 	  
	Name: Mazwi Yako 	 	  


THUS SIGNED AT SANDTON ON THIS 25TH DAY OF MARCH 2009.


	Witnesses: 	 	  
	  	 	  
	1. /s/ Bandile
      Maqetuka 	 	SERGE BELAMANT 
	Name: Bandile Maqetuka 	 	Chief Executive Officer, 
	  	 	Cash Paymaster Services (Proprietary) Limited
    
	  	 	 /s/ Serge Belamant 
	  	 	  
	2./s/ Mazwi Yako
    	 	  
	Name: Mazwi Yako 	 	  


[***] Confidential information has been omitted and filed
separately with the Securities and Exchange Commission pursuant to a
confidential treatment request. 




     CONFIDENTIAL TREATMENT

REQUESTED PURSUANT TO RULE 24b-2

Certain portions of this exhibit have been omitted pursuant
to a request for confidential treatment under Rule 24b-2 under the Securities
Exchange Act of 1934. The omitted materials have been filed separately with the
Securities and Exchange Commission. 

ANNEXURE “A”: SERVICE FEE 

SASSA shall pay CPS the Service Fee, calculated in accordance
with the formula below for the services rendered in all the Provinces in
accordance with the Interim Agreement: 

Service Fee = ([***] beneficiaries x R[***]) + (b x R[***])


	where 	b = the amount of recipients in
      excess of [***] paid during the applicable pay cycle 


All amounts exclude Value Added Tax (VAT). 

CPS will invoice SASSA within 36 hours after payment has been
completed for each specific pay cycle. 

[***] Confidential information has been omitted and filed
separately with the Securities and Exchange Commission pursuant to a
confidential treatment request.