Veon Launches Mobile Login Digital ID Authentication System Without Compromising User's Privacy

- Telecom operator VEON launches digital ID authentication system. (photo credit: pixabay)

JAKARTA - Telecom operator VEON on Tuesday 7 December unveiled a digital ID authentication system that their Chief Executive, Kaan Terzioglu, said could rival those used by US tech giants in simplifying mobile logins without compromising privacy.

The new tool allows users to log into systems such as retail or banking websites using phone number and one-time password authentication, rather than using separate passwords, or those attached to existing domains such as Google or Facebook.

Veon is looking to roll out the system to its 212 million subscribers in nine countries after a nine-month trial with more than 1.2 million monthly active users in its main market of Russia.

Terzioglu told Reuters that Veon's system was a simpler alternative to those offered by Google and Facebook.

"We have a unique opportunity to simplify all of these interactions by allowing people to use only their phone numbers and we flag credentials including certain personal information that you don't always want to share with everyone," Terzioglu said in an interview with Reuters.

Foreign technology companies have been under increasing pressure from the Russian government over content shared on their platforms. This arose, along with their demands to establish an office in Russia.

Veon also unveiled a new strategy focused on digital assets, double-digit local currency revenue growth, and divestment of its tower assets, which Terzioglu hopes to complete within the next two years as part of a plan to lower debt.

Faced with limited revenue growth and exorbitant debt accumulated during recent network upgrades, telecommunications companies across Europe are looking for ways to raise money by selling their tower portfolios, or create future revenue streams through the disposal of these assets.

The company, which owns more than 50.000 towers, last week signed a deal to sell its tower assets in Russia for about $1 billion.

"I would like to see more of this deal ... in the next quarter and in 2022, 2023 hopefully we will finish the whole series," Terzioglu said. "It's been about nine months (since) we pushed the button on our physical asset monetization strategy."

The company is also in talks with independent tower operators in Pakistan and Bangladesh.

Veon's consolidated debt was 7.7 billion US dollars as of September 30 and tower sales could generate several billion.