Partnership targets greater financial inclusion
VEON Ltd. (NASDAQ:VEON) and Mastercard (NYSE:MA) have entered into a strategic partnership to expand access to digital financial services in Ukraine, Kazakhstan, Pakistan and Uzbekistan, according to a joint announcement released on 2 July 2026.
The collaboration will combine VEON’s digital ecosystems and customer reach with Mastercard’s global payments infrastructure to accelerate the development of new financial products and services.
AI-powered financial products among planned initiatives
The companies plan to explore a range of solutions, including AI-driven credit scoring, embedded finance, digital wallets, merchant payment services, loyalty programmes and cross-border remittances.
The initiative is designed to improve financial access for consumers and small businesses that face challenges using traditional banking services, particularly in markets where cash transactions remain dominant and credit histories are limited.
Ukraine and Kazakhstan to lead initial rollout
The first pilot programmes are expected to launch in Ukraine and Kazakhstan before potentially expanding into VEON’s other operating markets.
The companies also intend to evaluate opportunities beyond VEON’s existing footprint by leveraging Mastercard’s international payments network.
“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,” said Kaan Terzioglu, Chief Executive Officer of VEON Group.
Mete Guney, Executive Vice President, Market Development, EEMEA at Mastercard, said the collaboration “reflects our shared commitment to advancing digital financial inclusion and creating pathways to greater economic participation across the region.”
Focus on expanding digital ecosystems
VEON said it currently delivers connectivity and digital services to more than 150 million users across five countries.
The company added that all planned financial services will be introduced subject to the relevant regulatory approvals and requirements.