The company Net1 assists banks by operating a mainframe computer with customer information. This information came with each transaction completed via a card and a ten-digit code. Net1 is led by its founder and CEO, Serge Belamant. Born in Tulle, France in 1953, Belamant’s family moved to Johannesburg, South Africa in 1967 when he was 14. During his high school years, he excelled at both sports and academics. Net1 CEO Serge Belamant to take early retirement. After graduating from high school in 1972, he attended two different colleges, Witwatersrand University and UNISA.
Serge Belamant dropped out in his third year of this higher education to begin his long and successful career in computers. His first position was as an engineer for Matrix. While working here he took a temporary assistance gig with Control Data, helping them with a number of projects for miscellaneous computer companies. They were so impressed with his work that they offered him a permanent position. In 1982 he developed the first scientifically driven financial system using their equipment. Not long afterward he began working for SASWITCH.
It was during the 1980s that Serge Belamant developed revolutionary ATM technology for Saswitch. As a result, SASWITCH became the second largest ATM company in the world. His most revolutionary came in 1989, an innovation that is recognized as the invention of cryptocurrency technology. For the distribution of Belamant’s patented technology, he started Net1. For several years it was not successful at all. This is primarily because that his material was so good that many banks feared that it would render useless their infrastructures.
In 1997 things started picking way up for the company after it signed a partnership with Visa. After this things kept going up for the company and it kept getting further partnerships. Founded and based in South Africa, through the years it has slowly crept into other African nations. Today, the majority of its business is via governmental contracts. It is also distributing smart cars in Vietnam, Indonesia, the Philippines and Columbia. Serge Belamant served as the CEO of Net1 until 2017. During his time as leader, at its peak, Net1 held over $2 billion.