VEON, Beeline Kazakhstan sign payments cooperation memorandum with National Bank of Kazakhstan

VEON: VEON is a global digital operator headquartered in Dubai that provides connectivity and digital services across dynamic markets including Kazakhstan. The company operates through local brands and focuses on three digital pillars: Financial Services, Digital Life, and Digital Enterprise to drive customer engagement. It is directly involved in the payments cooperation memorandum signed with the National Bank of Kazakhstan through its Kazakh subsidiary. Beeline Kazakhstan: Beeline Kazakhstan is the Kazakh operating company of VEON, delivering mobile telecommunications and expanding into digital services under the Beeline brand. It is actively pursuing a first-category payment organization license to enable account opening, card issuance, and payment infrastructure participation. The company is a direct signatory to the recent memorandum with the National Bank of Kazakhstan aimed at advancing payment services and digital infrastructure. National Bank of Kazakhstan: The National Bank of Kazakhstan serves as the country's central bank and primary regulator of the financial system, overseeing payment infrastructure and fintech initiatives. It recently participated in the Central Asia Fintech Summit where it signed cooperation agreements focused on digital payments and innovation. The bank is driving efforts to enhance payment services through partnerships with operators like VEON. Digital Expansion: VEON is scaling its financial services offerings across its operating markets as part of a broader strategy to integrate payments and digital solutions with core connectivity. Fintech Regulation: The National Bank is preparing to issue first-category payment organization licenses starting in October 2026 to support expanded digital financial services by telecom and fintech players. Payments Innovation: Kazakhstan's National Bank is advancing cross-border QR payment capabilities with agreements involving multiple countries to enable seamless international transactions via banking apps.