VEON Teams up with Mastercard to Support the Financial Inclusion

Amsterdam-based digital services company VEON Ltd. today announced its newly inked partnership with global payments technology company Mastercard in a bid to expand digital financial services in key markets across countries like Russia, Pakistan, Ukraine, Kazakhstan and Bangladesh.

Prior to the new partnership, the two companies have already worked together in May 2020 to boost financial inclusion across that fast-growing nation. 

According to the official announcement posted by the company, the cooperation with Mastercard will allow VEON to further scale its digital financial services business by offering consumers and merchants in these countries best-in-class products tailored to their needs. In addition, the companies will support 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.”

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.