QIWI Wallet

QIWI is a Russian payments business with various areas of activity, including a bank, an e-wallet, kiosks and a logistics arm. The QIWI Wallet is based on a prepaid account, which can be used to pay more than 13,000 merchants, including various e-commerce, utility and government providers.

Only 20% of Russians and Kazakhs have a credit card. And consumers use cards to pay for only half of all online purchases.

Other e-wallets operating in the region include UnionPay, Skrill and PaySera.

The benefits of supporting e-wallets in Russia and Kazakhstan

  1. If you don’t support alternative payment methods, half of all Russian e-commerce is closed to you.
  2. Russian pay for 29% of online purchases using e-wallets.
  3. Between 2021 and 2025, the e-commerce market will grow from US$55bn to US$116bn.

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Type Cash, Wallet
Company behind LPM KIWI Bank (JSC)
Market share details 20.3 m users
Market relevance High

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