When he was 14 years old, Serge Belamant’s family relocated to South Africa. He joined Highlands North High School and took part in athletics and became good at it. Progressing, he joined the Witwatersrand University to pursue engineering. However, he later dropped engineering and pursued computer science. Upon enrolling into the computer science class, the school required Belamanto to redo some of the subjects he had earlier done and passed, and this made Belamant drop out of school. Matrix, and engineering firm, later employed him and let his work on its small and medium-sized IBM machines. He went on and developed apps useful for dam levels analysis and optimisation.
During this time, he worked with several organisations like Control Data to gain the necessary skills in the information systems field. Serge Belamant later went to Washington D.C. where he studied linear and non-linear programming and later helped the military operate the COBRA system. However, with the rise of sanctions against the military, Belamant joined SASWITCH and became head of the IT division. During his tenure with the firm, it became the second largest ATM switch firm in the world. He left the company in 1989 and founded NET1 whose foundation was on the Funds Transfer System.
In its initial years, NET1 unsuccessfully tried selling its UEPS system to several firms. Visa later partnered with the firm and developed COPAS using FTS and UEPS frameworks. NET1, later on, worked to improve grant payments.
Serge Belamant has issued patent applications for the protection of some of his work. He has received approval for some of the patents while others are awaiting approval. Some of the patents include Financial Transactions with a Varying Pin and Verification of a Transactor’s Identity.
The Financial Transactions with a Varying Pin is one of the patents applied for by Belamant. The system produces pins for transactions conducted by ATMs. The system also creates points of sale for accurate identification of biometric information. The system uses financial transaction processing networks to facilitate financial processing methods and transactions.
The other patent Serge Belamant applied for is the Verification of a Transactor’s Identity. The framework is a system that oversees financial affairs between a transactor and transactee. It verifies financial accounts and institutions for the transactor. The system has an identifier input property that requires the user to key in their identifier details as they work on the system.
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