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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, 2009;

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 27, 2009 | /s/ Serge Belamant         
|--------------------- | ---------------------------
|                      | Serge Belamant             
|                      | Principal executive officer

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