VEON unites with Mastercard for expansion of digital services

Digital Payments
Digital Payments

VEON, a specialist global provider of connectivity and digital services, has elevated the way it is bringing financial services to key markets through a new collaboration with Mastercard

The partnership, covering core portions of VEON’s footprint in Russia, Pakistan, Ukraine, Kazakhstan and Bangladesh, will allow VEON to further scale its digital financial services business by offering consumers and merchants in these countries products tailored to their needs. 

The firm’s offering seeks to include support for the financial and digital inclusion of traditionally underserved consumers in each geography.

VEON’s co-Chief Executive Officer, Sergi Herrero, commented: “Expanding digital financial services is a key growth priority for VEON as we look to meet the evolving needs of our consumers. 

“Our partnership with Mastercard provides our operating companies in five countries with world-class capabilities to fast-track their plans for developing digital financial services and demonstrates the trust Mastercard has in VEON’s ability to encourage greater financial inclusion through these transformative platforms.”

The partnership is an expansion of the relationship between the two companies that began in May 2020 when Mastercard partnered with Mobilink Microfinance Bank Limited, VEON’s financial services provider in Pakistan, to boost financial inclusion across that fast-growing nation. It further cements the joint commitment of VEON and Mastercard as strategic partners on this ambitious but vital journey to empower individuals and communities through financial services access.

Jorn Lambert, Chief Digital Officer, Mastercard, added: “As digital transformation accelerates, there is also an opportunity to expedite its many benefits, including the way it effectively addresses consumer needs and experiences. Mastercard strongly believes in the power of partnership and we look forward to working closely with VEON to expand financial inclusion and greater access to the digital economy.”