VEON Extends Partnership With Mastercard To Bolster Financial Services In Underpenetrated Emerging Markets

VEON Ltd. (NASDAQ: VEON) expanded its partnership with Mastercard Inc. (NYSE: MA) to trigger enhanced digital financial services in the underpenetrated emerging markets of Russia, Pakistan, Ukraine, Kazakhstan, and Bangladesh.
"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," said VEON's co-CEO Sergi Herrero.
The partnership dates back to May 2020, when Mastercard collaborated with VEON's financial services provider in Pakistan Mobilink Microfinance Bank Limited to drive financial inclusion in the emerging economy.
Price action: VEON shares are up 4.88% at $1.72 in the pre-market session on the last check Wednesday.