VEON’s Banglalink Launches Mukto Pay, Expanding Digital Financial Services in Bangladesh

New digital payments platform brings everyday payments to customers and merchants across Bangladesh, with interoperable Bangla QR to follow

New York, Dubai and Dhaka, November 04, 2026: VEON Ltd. (NASDAQ: VEON), a global digital operator, today announced the commercial launch of Mukto Pay, a digital payments platform powered by its Bangladesh operating company, Banglalink. The launch follows the Payment Service Provider (PSP) licence Banglalink received from Bangladesh Bank, the central bank of Bangladesh, in August 2026, and brings VEON’s digital financial services experience to Bangladesh, deepening its investment in the country’s digital economy.

Mukto Pay is designed to make digital payments accessible across Bangladesh. In this first phase, anyone can use the Mukto Pay app, regardless of mobile operator, and Banglalink customers can also use a basic phone, to send and receive money, pay utility bills and recharge mobile accounts digitally. Customers can also pay online at more than 9,500 merchants, and a dedicated merchant application lets businesses register, receive payments and track transactions. The platform is also preparing to introduce and promote Bangla QR, Bangladesh’s national interoperable QR payment standard.

This launch reflects continued progress under VEON’s “Invest in Bangladesh NOW” initiative, a proposed public-private partnership with the Government of Bangladesh, formally launched in New York in September 2026, and advanced further through an investor symposium VEON and Banglalink hosted in New York later that same month. VEON’s initial USD 250 million anchor investment, committed over the coming years, forms part of that initiative, which aims to attract a total of USD 1 billion in foreign direct investment to advance connectivity, digital infrastructure, digital financial services and AI in Bangladesh.

“Mukto Pay reflects our long-term commitment to Bangladesh, putting digital financial services directly into the hands of customers and businesses. We have seen across our markets that connectivity creates the foundation, but lasting impact comes from building services around the way people live, work and transact. We are bringing that experience to Bangladesh, combining global technology and financial services expertise with Banglalink’s local reach and understanding of its customers,” said Kaan Terzioglu, Group Chief Executive Officer of VEON.

“With Mukto Pay, Banglalink is extending its reach beyond connectivity into everyday financial transactions. Mukto Pay gives individuals, merchants and businesses a way to participate in the digital economy, whether they use a smartphone or a basic mobile phone. This is a foundation on which we can continue to build a much broader set of digital financial services for Bangladesh,” said Johan Buse, Chief Executive Officer of Banglalink.

In September, VEON and Square Group also received Bangladesh Bank’s approval, to set up a digital bank. The planned digital bank, backed by VEON Digital Financial Group and Square Group, is expected to build on Banglalink’s connectivity, distribution and digital ecosystem to extend access to formal financial services.

VEON’s financial services platforms served approximately 59 million active customers across Pakistan, Kazakhstan and Uzbekistan in Q2 2026, with financial services contributing USD 151 million to the Group’s digital revenue in the quarter. Bangladesh now becomes the fourth market in VEON’s digital financial services footprint.

About VEON
VEON is a digital operator that provides connectivity and digital services to over 151 million connectivity customers and 228 million 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: https://www.veon.com.

About Banglalink
Banglalink, the country's leading digital operator, places people at the heart of everything it does. Guided by a people first approach rooted in care, Banglalink works to make digital and financial services more accessible and meaningful in everyday life, ultimately making a better life for all. The company offers a range of digital solutions, including the Mukto app (formerly MyBL), the country's largest entertainment platform Toffee, and RYZE, the country's first AI powered digital lifestyle brand for youth. Banglalink is a fully owned subsidiary of VEON, a Nasdaq listed global digital operator headquartered in Dubai.

Forward Looking Statements 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, including in relation to VEON’s investment plans in Bangladesh.

Contact Information

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