---

EXHIBIT 21

SUBSIDIARIES OF REGISTRANT

The following is a list of subsidiaries of the Net 1 UEPS
Technologies, Inc. as of June 30, 2007:

|NAME                                                  | WHERE ORGANIZED         
|----------------------------------------------------- | ------------------------
|                                                      |                         
|Net1 Applied Technologies South Africa Limited        | Republic of South Africa
|                                                      |                         
|Cash Paymaster Service (Pty) Limited                  | Republic of South Africa
|                                                      |                         
|Cash Paymaster Services (Eastern Cape) (Pty) Limited  | Republic of South Africa
|                                                      |                         
|Cash Paymaster Services (Northern) (Pty) Limited      | Republic of South Africa
|                                                      |                         
|Cash Paymaster Services (KwaZulu Natal) (Pty) Limited | Republic of South Africa
|                                                      |                         
|Cash Paymaster Services (Northern Cape) (Pty) Limited | Republic of South Africa
|                                                      |                         
|Cash Paymaster Services (North West) (Pty) Limited    | Republic of South Africa
|                                                      |                         
|Cash Paymaster Services (Gauteng) (Pty) Limited       | Republic of South Africa
|                                                      |                         
|Net1 Finance Holdings (Pty) Limited                   | Republic of South Africa
|                                                      |                         
|Moneyline Financial Services (Pty) Limited            | Republic of South Africa
|                                                      |                         
|New World Finance (Pty) Limited                       | Republic of South Africa
|                                                      |                         
|Friedland 035 Investments (Pty) Limited               | Republic of South Africa
|                                                      |                         
|Siyeza Security Services (Pty) Limited                | Republic of South Africa
|                                                      |                         
|Sinqobile Security Services (Gauteng) (Pty) Limited   | Republic of South Africa
|                                                      |                         
|Prism Holdings Limited                                | Republic of South Africa
|                                                      |                         
|Prism Payment Technologies (Pty) Limited              | Republic of South Africa
|                                                      |                         
|EasyPay (Pty) Ltd                                     | Republic of South Africa
|                                                      |                         
|SmartSwitch Nigeria Limited                           | Federation of Nigeria   
|                                                      |                         
|NUEP Holdings S.a.r.l.                                | Luxembourg              

---