18 Sep 2025
VEON Inaugurates JazzCash Experience Lounge in Islamabad Dubai and Islamabad, September 18, 2025 - VEON Ltd. (Nasdaq: VEON), a global digital operator ( VEON and together with its subsidiaries, the Group ), today announce the inauguration of the experience lounge of JazzCash, its digital financial services platform in Pakistan. Governor State Bank of Pakistan (SBP) Jameel Ahmad; Deputy Governor SBP Saleem Ullah; VEON Group CEO Kaan Terzioglu; and JazzCash CEO Murtaza Ali inaugurated the Experience Lounge in Islamabad, Pakistan today. On this occasion, Jazz CEO and Chairman Mobilink Microfinance Bank Aamir Ibrahim; and Mobilink Microfinance Bank CEO Haaris Mahmood Chaudhary were also present.
With 53 million customers, JazzCash is Pakistan's leading digital financial services (DFS) provider, empowering underserved communities-particularly women, entrepreneurs, and rural populations-to participate in the digital economy and drive inclusive growth. In 2024, JazzCash processed transactions equivalent to approximately 9% of Pakistan's GDP. Its extensive network of nearly 600,000 merchants and 300,000 agents ensure deep market reach and financial access, which are crucial for documenting the economy. It also enables the disbursement of more than 140,000 digital loans daily to micro-entrepreneurs, supporting small-scale commerce and driving inclusive economic growth.
Governor State Bank of Pakistan, Jameel Ahmad, welcomed the launch of the JazzCash Experience Lounge, noting that it would serve as a valuable platform to demonstrate how digital payment systems can broaden financial access and build public trust. It offers a glimpse into the future of Pakistan's digitally driven cashless economy as envisioned by our government under the stewardship of Prime Minister Shehbaz Sharif.
Digital financial services transform informal economic activities into seamless, convenient and tax-compliant transactions that underpin not only convenience of the user but also the economic stability and growth of the nation, said Kaan Terzioglu, VEON Group CEO. Our JazzCash Experience Lounge provides policymakers, regulators and partners with a tangible view of how technology is transforming commerce and livelihoods. We commend the Government of Pakistan for prioritizing the digitalization agenda in financial services and reaffirm our dedication to supporting it through continued investment and innovation.
Aamir Ibrahim, CEO of Jazz and VEON Group Executive Committee Member, added: As part of the Pakistan Prime Minister's Cashless Economy initiative, JazzCash is honored to contribute to the key national goal of driving growth through digital financial inclusion. The transition to a cashless economy is vital for Pakistan's economic growth, transparency, and global competitiveness. We look forward to collaborating with all stakeholders to accelerate digital adoption and ensure the benefits of technology reach every corner of the country.
The JazzCash Experience Lounge is an interactive demonstration hub, highlighting how digital financial services are enabling Pakistan's transition to a cashless economy. The facility showcases everyday payment journeys across fuel stations, retail shops, and neighborhood vendors, allowing visitors to experience JazzCash's consumer, retailer, and merchant app interfaces, as well as QR code-based transactions, Tap Pay, and soundbox-enabled devices. It also houses innovative next-generation technologies such as facial recognition payments, palm verification, wearables, and digital tags.
As of 2Q 2025, VEON's DFS platforms serve 40.7 million monthly active users, underscoring both rapid adoption and their contribution to the digital economies of their respective markets. JazzCash and Mobilink Microfinance Bank in Pakistan, Beepul in Uzbekistan, and Simply in Kazakhstan - play a critical role in expanding the benefits of digital financial inclusion to millions. Over the last twelve months, these platforms processed an equivalent of approximately US$43.6 billion in total transaction value, highlighting the scale and economic impact of formalizing digital flows in frontier markets.
Earlier this week, VEON also joined Money20/20 Middle East in Riyadh where Lasha Tabidze, Group Chief Digital Operations Officer, and Aamir Aftab, JazzCash Chief Product Officer, discussed how innovation and technology how digital financial services empower customers, businesses and governments alike in VEON markets.
About VEON
VEON is a digital operator that provides services to over 150 million connectivity customers and approximately 120 million monthly active digital users. Operating across five countries that are home to more than 6% of the world's population, VEON is transforming lives through technology-driven services that empower individuals and drive economic growth. VEON is listed on NASDAQ. For more information visit: http://www.veon.com
About JazzCash
JazzCash is Pakistan's leading digital financial services platform, operating under a Branchless Banking charter and offering mobile wallet services in collaboration with Mobilink Microfinance Bank. It serves 53 million customers, offering a broad portfolio of financial services for customers, including payments, lending, insurance, welfare disbursements, government to public payments for various services. For more information, please visit: www.jazzcash.com.pk.
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, VEON's strategy and investment plans. Forward-looking statements are inherently subject
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