Approximately four million unbanked and underbanked people in South Africa use mobile phone-based payments and MasterCard branded virtual payment cards from Zazoo, which manages mobile products on its parent company’s Net1 Universal Electronic Payment System (UEPS) platform. Transactions for banking, loans, insurance, cash withdrawals, payroll, and remittances are secured by fingerprint and voice biometrics. Grindrod Bank is the MasterCard card issuer. Net1 is South Africa’s largest transaction processor of social welfare payments. Recently it added support for similar products in Niger...