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Mastercard and VEON teamed up to push digital financial services

Feb 04, 2021

This partnership is covering core portions of VEON’s footprint: Russia, Pakistan, Ukraine, Kazakhstan, and Bangladesh

Mastercard VEON

Mastercard and VEON teamed up to push digital financial services. Source: flickr.com

VEON, a global provider of connectivity and digital services, and Mastercard have announced a strategic partnership to boost digital financial services in key markets.

This collaboration will allow VEON to further scale its digital financial services business by offering consumers and merchants products tailored to their needs. By working together, the companies will support the financial and digital inclusion of traditionally underserved consumers in each geography.

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
Sergi Herrero, VEON's co-Chief Executive Officer 

The partnership is an expansion of the relationship between the two companies that began in May 2020 when Mastercard partnered with Mobilink Microfinance Bank Limited, VEON’s financial services provider in Pakistan, to boost financial inclusion across that fast-growing nation.

We’ve reported that Mastercard announced its partnership with Sokin, a UK-based fintech payment company. The two firms have collaborated to increase fixed-price remittance services as well as affordable currency exchange in Sri Lanka, Nepal, India, Bangladesh, and the Maldives.

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