VEON's JazzCash Strengthens Pakistan's Payments Ecosystem With Mastercard Partnership

AMSTERDAM, May 5, 2020 /PRNewswire/ -- VEON Ltd. (NASDAQ: VEON) (Euronext Amsterdam: VEON), a leading global provider of connectivity and digital services, announces a partnership between JazzCash and payment technology leader Mastercard that strengthens the payments ecosystem for merchants and customers in Pakistan.

More than seven million customers and merchants use JazzCash every month, making it Pakistan's leading digital wallet. The partnership with Mastercard will allow merchants to accept digital payments from customers, digitise their supply chain, and move to cashless operations.

In a first for Pakistan, merchants and consumers who sign up for JazzCash wallet will be able to benefit from a wide range of Mastercard's digital solutions and capabilities to pay for orders and services via all digital channels as well as make online payments in a fast, safe and convenient manner. 

VEON's co-CEO Sergi Herrero commented: "The COVID-19 pandemic is highlighting the need for digital payments, more than ever before. This partnership with Mastercard will allow our more than seven million customers and merchants to carry out their essential transactions in a safe and efficient way.  In the future, with a young and fast-growing population of more than 200 million, there is clearly scope in Pakistan for JazzCash to accelerate its recent growth while improving financial inclusion."

Amnah Ajmal, Executive Vice President, Market Development, Middle East and Africa – Mastercard, said: "With a large percentage of Pakistan's population still unable to access formal financial services, this partnership serves to drive financial inclusion in the country and will provide customers with a much simpler, faster and more secure way of making payments. It will further equip them with the necessary tools to benefit from a newer and revamped digital economy. As a global leader in the payments technology sector, we are committed to helping Pakistan unlock the economic opportunities offered by digital payments."

JazzCash customers will also have access to Mastercard's virtual and branded debit cards that can be used in 55,000 points of sale and ATMs in Pakistan, in addition to JazzCash merchants and e-commerce sites.

About VEON

VEON is a NASDAQ and Euronext Amsterdam-listed global provider of connectivity and internet services, headquartered in Amsterdam. Our vision is to empower customer ambitions through technology, acting as a digital concierge to guide their choices and connect them with resources that match their needs. 

For more information visit: http://www.veon.com.

Disclaimer

This release contains "forward-looking statements", as the phrase is defined in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical facts, and include statements relating to, among other things, expectations regarding the ability to successfully execute our operating model, development plans, such as those involving our digital payments initiatives, and related transactions. Forward-looking statements are inherently subject to risks and uncertainties, many of which VEON cannot predict with accuracy and some of which VEON might not even anticipate. The forward-looking statements contained in this release speak only as of the date of this release. VEON does not undertake to publicly update, except as required by U.S. federal securities laws, any forward-looking statement to reflect events or circumstances after such dates or to reflect the occurrence of unanticipated events.

SOURCE VEON Ltd

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