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Exhibit 31.1

CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER PURSUANT TO
RULES 13A-14(A) AND 15D-14(A) UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS
AMENDED

I, Serge Belamant, certify that:

1.        I have reviewed
this annual report on Form 10-K of Net 1 UEPS Technologies, Inc. (Net1) for
the year ended June 30, 2008;

2.        Based on my
knowledge, this report does not contain any untrue statement of a material fact
or omit to state a material fact necessary to make the statements made, in light
of the circumstances under which such statements were made, not misleading with
respect to the period covered by this report;

3.        Based on my
knowledge, the financial statements, and other financial information included in
this report, fairly present in all material respects the financial condition,
results of operations and cash flows of Net1 as of, and for, the periods
presented in this report;

4.        Net1s other
certifying officer and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e)
and 15d-15(e)) and internal control over financial reporting (as defined in
Exchange Act Rules 13a-15(f) and 15d-15(f)) for Net1 and we have:

(a) Designed such disclosure controls and procedures, or caused such disclosure
controls and procedures to be designed under our supervision, to ensure that
material information relating to Net1, including its consolidated subsidiaries,
is made known to us by others within those entities, particularly during the
period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such
internal control over financial reporting to be designed under our supervision,
to provide reasonable assurance regarding the reliability of financial reporting
and the preparation of financial statements for external purposes in accordance
with generally accepted accounting principles;

(c) Evaluated the effectiveness of Net1s disclosure controls and procedures and
presented in this report our conclusions about the effectiveness of the
disclosure controls and procedures, as of the end of the period covered by this
report based on such evaluation; and

(d) Disclosed in this report any change in Net1s internal control over
financial reporting that occurred during Net1s most recent fiscal quarter
(Net1s fourth fiscal quarter in the case of an annual report) that has
materially affected, or is reasonably likely to materially affect, Net1s
internal control over financial reporting; and

5.        Net1s other
certifying officer and I have disclosed, based on our most recent evaluation of
internal control over financial reporting, to Net1s auditors and the Audit
Committee of Net1s Board of Directors (or persons performing the equivalent
functions):

(a) All significant deficiencies and material weaknesses in the design or
operation of internal control over financial reporting which are reasonably
likely to adversely affect Net1s ability to record, process, summarize and
report financial information; and

(b) Any fraud, whether or not material, that involves management or other
employees who have a significant role in Net1s internal control over financial
reporting.

|Date: August 28, 2008 | /s/ Serge Belamant         
|--------------------- | ---------------------------
|                      | Serge Belamant             
|                      | Principal executive officer

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