VEON, Mastercard announce global partnership

VEON Ltd, a global provider of connectivity and digital services, announced a strategic global partnership with Mastercard to boost digital financial services in key markets, according to a release.

The partnership covers core portions of VEON’s footprint including Russia, Pakistan, Ukraine, Kazakhstan and Bangladesh and will allow VEON to offer consumers and merchants in these countries digital solutions tailored to their needs. By working together, the companies will support the financial and digital inclusion of traditionally underserved consumers in each geography.

“Expanding digital financial services is a key growth priority for VEON as we look to meet the evolving needs of our consumers,” Segi Herrero, VEON’s co-chief executive officer said in the release. “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, VEON’s financial services provider in Pakistan, to boost financial inclusion in that country.