VEON has entered into a strategic partnership with Mastercard to accelerate the rollout of artificial intelligence (AI)-powered digital financial services across emerging markets, reinforcing the growing role of telecommunications companies in driving financial inclusion.
The collaboration will combine VEON’s extensive customer base, local digital platforms, and data capabilities with Mastercard’s global payments network and financial technology expertise to deliver a range of innovative financial solutions in Ukraine, Kazakhstan, Pakistan, and Uzbekistan.
The initiative aims to expand access to financial services in markets where millions of consumers and small businesses remain underserved due to limited access to traditional banking. The partners plan to introduce AI-driven credit scoring, digital wallets, embedded finance, merchant services, remittances, and loyalty programmes through VEON’s digital ecosystem.
VEON Group Chief Executive Officer, Kaan Terzioglu, said the partnership reflects the company’s vision of transforming mobile connectivity into a platform for broader economic participation.
“At VEON, we believe access to financial services is a foundation for a better life,” Terzioglu said, adding that the collaboration will enable individuals and businesses to access financial tools that have traditionally been beyond their reach.
He noted that the convergence of AI, connectivity, and trusted digital payments will shape the future of financial services, enabling the delivery of smarter and more personalised financial solutions while accelerating digital transformation across VEON’s markets.
The partnership builds on VEON’s strategy of evolving beyond traditional telecommunications by developing digital ecosystems that integrate communications, entertainment, and financial services.
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According to the GSMA, more than two billion registered mobile money accounts now exist globally, underscoring the increasing role of mobile connectivity in expanding financial inclusion across emerging economies.
The new initiative will initially launch pilot programmes in Ukraine and Kazakhstan before expanding to Pakistan and Uzbekistan, allowing both companies to refine the services ahead of a broader rollout.
Mastercard Executive Vice President of Market Development for Eastern Europe, Middle East and Africa (EEMEA), Mete Guney, described mobile connectivity as a key gateway to the digital economy.
He said the partnership would leverage VEON’s customer reach and Mastercard’s payments infrastructure to make financial services more accessible, secure, and relevant for consumers and small businesses while supporting greater economic participation across the region.
