The Group's principal activity is commercializing the Universal Electronic Payment System or UEPS through the development of strategic alliances with national and international bank, card service or retail organizations. The UEPS is a software application that utilizes Fund Transfer System. The Group also provides financial services such as loans and insurance products and by selling hardware, licensing software and providing related technology services including secure online transaction processing, cryptography and integrated circuit card (chip/smart card) technologies. On 27-Aug-2008, the Group acquired 80.10% of BGS Smartcard Systems AG, or BGS an Australian private company that provides smart card-based payment systems to banks, enterprises and government authorities in Russia, Ukraine, Uzbekistan, India and Oman.
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