VEON and Mastercard to Pilot AI Credit Scoring, Digital Wallets in Ukraine, Kazakhstan, Pakistan, Uzbekistan
VEON•VEON partners with Mastercard to develop AI-powered credit scoring, embedded finance, digital wallets and merchant services across Ukraine, Kazakhstan, Pakistan and Uzbekistan. Initial pilots in Ukraine and Kazakhstan leverage VEON’s 150 million connectivity customers and 228 million digital platform users to extend financial inclusion among underbanked consumers and small businesses.
1. Partnership Overview
VEON and Mastercard have formed a strategic collaboration to accelerate the rollout of inclusive, intelligent and accessible financial services across four emerging markets, combining VEON’s local digital platforms and customer reach with Mastercard’s global payments network and technology expertise.
2. Financial Services Solutions
The partnership will explore a suite of financial products including AI-powered credit scoring, embedded finance integrations, digital wallets, merchant services, loyalty programs and remittance solutions, subject to applicable regulatory approvals.
3. Market Reach and Pilots
Initial pilot programs will launch in Ukraine and Kazakhstan, with planned expansion into Pakistan and Uzbekistan and potential access to new markets via Mastercard’s global network where VEON does not yet operate.
4. Strategic Impact
By addressing underbanked populations in cash-heavy and fragmented payment economies, VEON aims to leverage its 150 million connectivity customers and 228 million digital users to drive financial inclusion, diversify revenue streams and enhance customer engagement.
