Benzinga | Feb 3, 2021 08:59AM EST

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.