VEON Signs Memorandum to Integrate Digital Payment Services in Kazakhstan

VEON, a global digital operator, has signed a memorandum of cooperation with Beeline Kazakhstan and the National Bank of Kazakhstan to explore the integration of digital payment services within the country’s national payment infrastructure. This five-year framework aims to enhance the convenience and accessibility of payments and money transfers for customers using VEON’s digital services.

Ahmet Kayhan, Chief Payments & Digital Assets Officer of VEON, highlighted the importance of payments in daily digital interactions.

The memorandum establishes a framework for exploring how VEON’s digital services can connect with Kazakhstan’s national payment and digital financial infrastructure. Areas of potential cooperation include payment and money transfer processing, as well as settlement between financial market participants. The initiative supports VEON’s DO1440 strategy, which aims to expand the company’s role in customers’ daily lives through digital services alongside connectivity.

Beeline Kazakhstan, a subsidiary of VEON, is also pursuing first-category payment organization status to support the expansion of its payment services. Jabbor Kayumov, CEO of Beeline Kazakhstan, emphasized the company’s experience in digital services and its commitment to making everyday payments more convenient.

The memorandum was signed at the Central Asia Fintech Summit in Almaty, hosted by the National Bank of Kazakhstan, the National Payment Corporation, and the Kazakhstan Fintech Network. The initiative is part of VEON’s broader strategy to develop financial services across its markets, with the goal of bringing together and scaling these businesses.

VEON, operating across five countries that are home to more than 6% of the world's population, is transforming lives through technology-driven services that empower individuals and drive economic growth. Beeline Kazakhstan serves 11.7 million customers with mobile connectivity and around one million with fixed internet services. Since 2018, the company has been executing its digital operator strategy, creating an ecosystem of 60 internal and external products.

The memorandum does not authorize the launch of new financial services. Any resulting projects will be subject to regulatory, legal, and technical review and will proceed only after all required approvals and procedures have been completed.