VEON’s Banglalink Receives Regulatory Approval to Launch Digital Payment Services to Advance Financial Inclusion in Bangladesh
Rhea-AI Summary
VEON (Nasdaq: VEON) announced on December 11, 2025 that Banglalink received permission from Bangladesh Bank to operate as a payment service provider in Bangladesh.
As a regulated provider, Banglalink will offer instant person-to-person transfers, remittances, utility and government bill payments, merchant and e-commerce transactions, and salary/disbursement services, with later support for micro-savings and insurance premium payments. The company said the platform will include a strong security framework and aims to expand digital financial inclusion in a market where 72% of the population remained outside the traditional banking system in 2023.
VEON reported 42.1 million monthly active users of digital financial services as of September 30, 2025, a 25% year-on-year increase.
Positive
- Regulatory approval from Bangladesh Bank to operate as a payment service provider
- 42.1 million digital financial services monthly active users as of Sep 30, 2025
- 25% year-on-year growth in VEON digital financial services MAUs
Negative
- None.
Key Figures
Market Reality Check
Peers on Argus
Pre-news, VEON was up 0.83% with mixed peer moves: LBTYA +2.85%, LBTYK +3.36%, PHI +0.82%, TDS +0.29%, while LBTYB was down 1.81%, indicating stock-specific rather than uniform sector momentum.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 08 | Data center project | Positive | +0.2% | Beeline Kazakhstan started building a Tier III Hyper Cloud data center. |
| Dec 01 | AI LLM initiative | Positive | -2.6% | Kyivstar and Ukraine’s Ministry picked Google Gemma for a national LLM. |
| Nov 25 | AI partnership | Positive | +2.7% | QazCode and MeetKai partnered to develop national LLMs across VEON markets. |
| Nov 25 | AI services expansion | Positive | +2.7% | QazCode–MeetKai deal to power AI-based digital products group-wide. |
| Nov 24 | Satellite connectivity | Positive | -1.0% | Kyivstar launched Starlink Direct to Cell SMS service in Ukraine. |
Recent strategic and technology announcements have generally led to modest share price moves, with mixed alignment between positive news flow and price reactions.
Over the last few weeks, VEON has reported several strategic digital and AI initiatives. On Nov 24, Kyivstar launched Starlink Direct to Cell in Ukraine, followed by dual announcements on Nov 25 about QazCode’s cooperation with MeetKai to build sovereign AI stacks across multiple markets. On Dec 1, Kyivstar and Ukraine’s Ministry of Digital Transformation chose Google Gemma for a national LLM, and on Dec 8 VEON’s Beeline Kazakhstan began work on a Tier III Hyper Cloud data center. Today’s Banglalink payments approval continues this pattern of expanding digital platforms across markets.
Market Pulse Summary
This announcement highlights Bangladesh Bank’s approval for Banglalink to operate as a payment service provider, expanding VEON’s footprint in digital financial services. It leverages VEON’s existing base of 42.1 million monthly active users, which grew 25% year-on-year as of September 30, 2025. Investors may track execution of the rollout in Bangladesh, adoption of use cases like remittances and bill payments, and how this complements VEON’s broader AI and cloud initiatives across other markets.
Key Terms
payment service provider financial
AI-generated analysis. Not financial advice.
Dubai and Dhaka, December 11, 2025 - VEON Ltd. (Nasdaq: VEON), a global digital operator (“VEON”), today announces that Banglalink, its digital operator in Bangladesh, has received the permission of Bangladesh Bank to operate as a payment service provider - a milestone in the operator’s ambition to expand further into digital financial services.
As a payment services provider, Banglalink will be able to offer regulated money transfer and payment services for customers, expanding access to formal financial tools. With a significant share of Bangladesh’s population still outside the traditional banking system —estimated at
Banglalink is now proceeding with operational and technical preparations for the commercial rollout, working closely with Bangladesh Bank and partner institutions. The offering will be designed to integrate everyday financial services seamlessly into customers’ mobile experience, reducing friction and lowering barriers to access.
At launch, Banglalink’s digital payment services will include instant person-to-person transfers, remittance services, utility and government bill payments, merchant and e-commerce transactions, and salary and disbursement services. In later stages, it will support emerging financial use cases such as micro-savings and insurance premium payments. Banglalink’s payments platform will incorporate a strong security framework intended to support safe, timely and dependable transactions.
“Digital financial services are a key pillar of our DO1440 strategy that is empowering our customers with relevant digital services for every minute of the day,” said Kaan Terzioglu, CEO of VEON Group. “The green light for Banglalink to launch payment services will enable us to bring financial services directly to customers’ fingertips while helping accelerate Bangladesh’s growth as a digital economy.”
“With Banglalink’s nationwide reach and VEON’s global capabilities, we are shaping a secure and inclusive digital payment ecosystem for Bangladesh,” said Johan Buse, Chief Executive Officer of Banglalink. “This approval reinforces our belief that simple, safe and accessible digital financial services should be available to everyone. Banglalink will continue driving meaningful digital innovation that supports everyday life, empowers communities and accelerates Bangladesh’s journey toward a connected and future-ready digital economy.”
The expansion into digital payments builds on VEON’s established experience in digital financial services across other operating markets. As of September 30, 2025, VEON’s digital financial services reported 42.1 million monthly active users, representing
About Banglalink
Banglalink is one of the leading digital communications service providers in Bangladesh, working to unlock new opportunities for its customers as they navigate the digital world. Driven by the vision of transforming lives through technology, Banglalink also strives to transform into a future-ready service provider capable of catering to the demands of the new digital era. For more information, visit: www.banglalink.net.
About VEON
VEON is a digital operator that provides converged connectivity and digital services to nearly 150 million connectivity and 140 million digital users. Operating across five countries that are home to more than
Forward-Looking Statements Disclaimer
This release contains “forward-looking statements”, within the meaning of the 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. Such forward-looking statements include, but are not limited to, statements relating to VEON’s and its subsidiaries’ commercial roll-out and growth plans in digital services. There are numerous risks, uncertainties that could cause actual results and performance to differ materially from those expressed by such statements, including risks relating to uncertainty over VEON’s and its subsidiaries’ commercial roll-out and growth plans in digital services, among others discussed in the section entitled “Risk Factors” in VEON’s 2024 Form 20-F filed with the SEC on April 25, 2025, and other public filings made by VEON with the SEC. The forward-looking statements contained herein speak only as of the date of this release and VEON disclaims any obligation to update them, except as required by law.
Contact Information
VEON
Hande Asik
Chief Communications and Strategy Officer
pr@veon.com
1 Bangladesh Bureau of Statistics 2023 survey: "Bangladesh Sample Vital Statistics"
FAQ
What did VEON announce about Banglalink on December 11, 2025 (VEON)?
What payment services will Banglalink (VEON) offer at launch in Bangladesh?
How does this approval affect financial inclusion in Bangladesh (VEON)?
How many digital financial services users does VEON report (as of Sep 30, 2025)?
Will Banglalink support micro-savings and insurance payments immediately (VEON)?
What security measures did VEON say will be used for Banglalink payments?
