VEON (VON.AS), a telecoms operator, announced a digital ID identification system on Tuesday that, according to Chief Executive Kaan Terzioglu, may rival those used by US internet companies in terms of streamlining mobile logins without losing privacy.
Instead of utilizing separate passwords or those tied to existing domains like Google (GOOGL.O) or Facebook, the new tool allows users to log into systems like retail or banking websites using their phone numbers and one-time password authentication (FB.O).
Following a nine-month pilot with over 1.2 million monthly active users in its biggest market, Russia, Veon aims to roll out the system to its 212 million subscribers in nine countries, he added.
“We had this great chance to simplify all of these interactions by allowing individuals to just use their phone numbers,” Terzioglu said in an interview. “We tokenize the credentials, including certain sensitive information that isn’t particularly good to share with everyone.”
The Russian government has increased its pressure on foreign internet companies over the content they distribute on their platforms, as well as demands that they open operations on Russian soil.
