Collaboration to expand accessible and inclusive financial services across Ukraine, Kazakhstan, Pakistan and Uzbekistan
Mete Guney, Executive Vice President, Market Development, EEMEA, Mastercard and Kaan Terzioglu, CEO, VEON Group
Dubai, July 2, 2026 - VEON Ltd. (Nasdaq: VEON), a global digital operator and Mastercard collaborate to accelerate the development of inclusive, intelligent and accessible financial services across Ukraine, Kazakhstan, Pakistan and Uzbekistan.
The collaboration is designed to bring together VEON's local digital platforms, customer reach, data-driven capabilities and emerging VEON Digital Finance strategy with Mastercard's global payments network, technology and financial services expertise. Together, the organizations intend to explore the development of a generation of financial services, including AI-powered credit scoring, embedded finance and digital wallets, subject to applicable regulatory requirements. The solutions will also provide merchant services, loyalty and remittances for consumers, small businesses and enterprises across VEON's markets.
Across many countries, millions of people and businesses remain underserved by traditional financial institutions. Limited credit history, cash-heavy economies, fragmented payment infrastructure and distance from formal banking channels continue to restrict access to financial services. VEON and Mastercard intend to help address these barriers by combining trusted local distribution, AI-enabled analytics and secure global payment technologies to create more relevant, affordable and accessible financial products.
According to the GSMA, there are now more than 2 billion registered mobile money accounts globally, demonstrating the growing role of mobile-enabled financial services in expanding access to the digital economy, particularly across emerging markets.
"At VEON, we believe access to financial services is a foundation for a better life. This means a farmer in Kazakhstan, a small business owner in Kyiv or a family in Karachi could benefit from financial tools that were previously out of reach," said Kaan Terzioglu, Chief Executive Officer of VEON Group. "Our local presence and sovereign platforms, combined with Mastercard's global capabilities, help turn connectivity into greater economic opportunity for the people and communities we serve."
The collaboration is expected to begin with pilots in Ukraine and Kazakhstan with potential expansion across VEON's other markets. Through Mastercard's global network, the companies also intend to explore opportunities to reach people in markets where VEON does not yet operate.
"Mobile connectivity is increasingly becoming the gateway to the digital economy. By combining VEON's extensive customer reach and digital platforms with Mastercard's global payments expertise, we have the opportunity to make financial services more accessible, secure and relevant for consumers and small businesses. This collaboration reflects our shared commitment to advancing digital financial inclusion and creating pathways to greater economic participation across the region," said Mete Guney, Executive Vice President, Market Development, EEMEA at Mastercard.
About VEON
VEON is a digital operator that provides connectivity and digital services to over 150 million users, with more than 228 million digital users across its platforms. Operating across five countries that are home to more than 6% of the world's population, VEON is transforming lives through technology-driven services that empower individuals and drive economic growth. VEON is listed on NASDAQ. For more information, visit: https://www.veon.com.
About Mastercard
Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we're building a resilient economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.
Forward-Looking Statements
This release contains "forward-looking statements," as the phrase is defined in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, including in relation to the Mastercard partnership and VEON's digital operator strategy.
Contact Information
VEON media contact
pr@veon.com
Mastercard media contact
Halima Islam
Halima.Islam@mastercard.com
