Benzinga | Jun 7, 2021 07:34AM EDT

VEON Rolls Out Mobile Linked Digital Payment Card in Kazakhstan

* VEON Ltd's (NASDAQ:VEON) Kazakhstan, Beeline operating company, launched the country's first digital payment card integrated with its mobile financial services offering.

* The Beeline Kazakhstan digital payment card is a mobile financial service application linked to a customer's phone number, an electronic wallet, and a premium digital Visa Platinum card. The card is marketed under the 'Simply' brand. The card is also integrated with digital wallets Apple Inc's (NASDAQ:AAPL) Apple Pay, Samsung Electronics Co Ltd (OTC: SSNLF) Samsung Pay, and Garmin Ltd (NASDAQ: GRMN) Garmin Pay.

* Beeline Kazakhstan forayed a new field, marking a new era of mobile financial services in Kazakhstan where 40% of the country's population is unbanked to drive its financial inclusion, Beeline Kazakhstan CEO Evgeny Nastradin said.

* The announcement follows from VEON's pioneering mobile financial services applications in other operating markets, including JazzCash in Pakistan, which has crossed 14 million users.

* Price action: VEON shares traded higher by 1.12% at $1.81 in the premarket session on the last check Monday.