Five-year framework to explore connecting VEON's digital services with Kazakhstan's national payments infrastructure
DUBAI / ALMATY, 15 September 2026 - VEON Ltd. (Nasdaq: VEON) ("VEON"), a global digital operator, today announced that VEON Digital Financial Group ("VEON DFG") and Beeline Kazakhstan have signed a Memorandum of Cooperation with the National Bank of Kazakhstan to explore the development of digital payment services in the country.
The memorandum establishes an initial five-year framework for cooperation, including exploring how VEON's digital services could connect with Kazakhstan's national payment and digital financial infrastructure. The aim is to make payments and money transfers more convenient and accessible within the digital services customers use every day.
Areas of potential cooperation include payment and money transfer processing, as well as settlement between financial market participants, using selected services and infrastructure offered by the National Payment Corporation.
The initiative supports VEON's DO1440 strategy to expand its role in customers' daily lives through digital services alongside connectivity. Developing financial services across its markets is a central part of this ambition, with VEON DFG intended to support the Group's efforts to bring together and scale these businesses.
"Payments are an essential part of how customers engage with digital services every day," said Ahmet Kayhan, Chief Payments & Digital Assets Officer of VEON. "Our ambition through VEON DFG is to build on the financial services capabilities across our markets and develop businesses that can serve more customers at greater scale. This memorandum provides a framework to explore how we can combine those capabilities with Kazakhstan's national payments infrastructure, supporting our DO1440 strategy and long-term growth in digital financial services."
Beeline Kazakhstan also intends to pursue first-category payment organization status to support the expansion of its payment services, subject to the applicable regulatory framework and all required approvals.
"Beeline Kazakhstan's customer relationships and experience in digital services give us a strong foundation to make everyday payments more convenient," said Jabbor Kayumov, CEO of Beeline Kazakhstan. "Working within this framework, we aim to explore services that fit naturally into our customers' daily lives, drawing on the country's national payments infrastructure and VEON's financial services experience."
The memorandum was signed at the Central Asia Fintech Summit in Almaty, hosted by the National Bank of Kazakhstan, the National Payment Corporation and the Kazakhstan Fintech Network.
The memorandum establishes a framework for cooperation; it does not itself authorize the launch of new financial services. Any resulting projects will be subject to regulatory, legal and technical review and will proceed only after all required approvals and procedures have been completed.
About VEON
VEON is a digital operator that provides connectivity and digital services to over 150 million connectivity and more than 228 million digital users. 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 Beeline Kazakhstan
Beeline Kazakhstan serves 11.7 million customers with mobile connectivity and around one million with fixed internet services. Since 2018, the company has been executing its digital operator strategy. Over the past five years, leveraging its expertise in digital solution development, Beeline Kazakhstan has created an ecosystem of 60 internal and external products. Beeline Kazakhstan is majority-owned by VEON.
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 VEON's digital finance strategy and ambitions in Kazakhstan and its other markets.
Contact Information
VEON
pr@veon.com
