The idea is VEON can scale its digital financial services business faster.
VEON and Mastesrcard have announced a strategic global partnership to boost the operator's digital financial services in key markets – Russia, Pakistan, Ukraine, Kazakhstan and Bangladesh.
This will allow VEON to scale its digital financial services business by offering consumers and merchants products designed for their needs – many consumers in these markets have previously been underserved.
Jorn Lambert, Chief Digital Officer, Mastercard said: “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.”
The partnership is an expansion of the relationship that began in May 2020 when Mastercard partnered with Mobilink Microfinance Bank Limited, VEON’s financial services provider in Pakistan.