Veon launches digital ID authentication to rival Big Tech


MOSCOW (Reuters) – Telecoms operator VEON on Tuesday launched a digital ID authentication system that Chief Executive Kaan Terzioglu stated may rival these utilized by U.S. know-how giants in simplifying cell logins with out sacrificing privateness.

The new instrument permits customers to log into techniques like retail or banking web sites utilizing their cellphone numbers and one-time password authentication, quite than utilizing separate passwords, or these hooked up to current domains like Google or Facebook.

Veon desires to roll out the system to its 212 million prospects in 9 nations following a nine-month trial with over 1.2 million month-to-month lively customers in its most important market, Russia, he stated.

Terzioglu instructed Reuters Veon’s system was an easier different to these supplied by the likes of Alphabet’s Google and Facebook.

“We had this distinctive alternative to simplify all these interactions by permitting individuals simply to use their phone numbers and we tokenise the credentials together with sure private info which it isn’t essentially fascinating to share with everybody,” Terzioglu stated in an interview.

Foreign tech corporations have come beneath rising stress from the Russian authorities over the content material shared on their platforms, together with calls for they arrange workplaces on Russian soil.


Veon additionally unveiled a brand new technique targeted on digital belongings, double-digit native foreign money income development and the divestiture of its tower belongings, which Terzioglu expects it to full within the subsequent two years as a part of plans to decrease debt.

Faced with straitened income development and stubbornly excessive debt constructed up over the past community improve, telecoms corporations throughout Europe are wanting to increase money by promoting their tower portfolios, or creating future earnings streams by spinning off these belongings.

The firm, which has greater than 50,000 towers, final week signed a deal to promote its tower belongings in Russia for about $1 billion.

“I would love to see extra of those offers… within the subsequent quarters and by 2022, 2023 we are going to hopefully full all the sequence,” Terzioglu stated.

“It’s been about 9 months (since) we pushed the button on our bodily belongings monetisation technique,” he stated.

The firm can be in talks with unbiased tower operators in Pakistan and Bangladesh.

Veon’s consolidated debt was $7.7 billion as of Sept. 30 and tower gross sales can herald a number of billion.

The firm’s shares have been up 3.4% as of 1345 GMT.

(Reporting by Alexander Marrow in Moscow and Supantha Mukherjee in Stockholm; Editing by Jan Harvey)

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