FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Seabrooke Christopher Stefan 		2. Issuer Name and Ticker or Trading Symbol

NET 1 UEPS TECHNOLOGIES INC [ UEPS ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director                      _____ 10% Owner
_____ Officer (give title below)      _____ Other (specify below)
(Last)          (First)          (Middle)

4 COMMERCE SQUARE 39 RIVONIA ROAD, SANDHURST, SANDTON 		3. Date of Earliest Transaction (MM/DD/YYYY)

9/27/2012
(Street)

GAUTENG RSA T3, T3 2196
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 		8. Price of Derivative Security
(Instr. 5) 		9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Undertaking to purchase common stock   (1) $9.96   (2) 9/27/2012   9/27/2012   P      100000       9/27/2012   11/30/2012   Common stock   100000   $0   100000   I   See footnote   (3)

Explanation of Responses:
( 1)  The purchaser described below in note (3) has entered into an agreement under which it has irrevocably undertaken to acquire the common stock for ZAR 82.00 through the JSE Limited once the shares of common stock have been moved by the seller to the JSE Limited register. The Issuer has a primary listing on the Nasdaq Stock Market and a secondary listing on the JSE Limited. The seller has irrevocably undertaken to transfer the shares of common stock to the JSE Limited register on or before November 30, 2012.
( 2)  The agreed purchase price is denominated in South African rand ("ZAR"). The amount reported in United States dollars is based on the exchange rate in effect on the date of this filing.
( 3)  A trust, settled by a relative of the reporting person and of which the reporting person is a discretionary beneficiary, is a shareholder of the company whose wholly owned subsidiary will acquire the common stock. The trust beneficially owns 33% of the company that will hold the common stock and has the right to vote 67% of the issued shares of the company. The reporting person is one of four trustees of the trust, and all matters voted on require a simple majority. The reporting person is the chief executive of the company that will hold the common stock. The reporting person disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Seabrooke Christopher Stefan
4 COMMERCE SQUARE 39 RIVONIA ROAD
SANDHURST, SANDTON
GAUTENG RSA T3, T3 2196 		X



Signatures
/s/Herman Kotze, Attorney-in-Fact for Christopher Seabrooke 9/28/2012
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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