QIWI, Visa enter e-payments alliance

MOSCOW | Russian-based electronic payment systems provider QIWI has entered a strategic alliance with Visa to introduce a digital wallet that will enable consumers to access a range of electronic payment options.


As part of the agreement, QIWI and Visa will transition the QIWI wallet from a single bank model to a digital wallet with a stored value account based on Visa prepaid card that can be issued by any Visa client-bank. In 2013, QIWI and Visa will work to open the QIWI platform to other Visa issuers in Russia and CIS. The QIWI Wallet, with more than 10 million active consumer accounts, will be linked to Visa prepaid payment functionality and services. This will extend the reach of electronic payments and utility of Visa cards in Russia.


In addition, this will allow consumers to pay over 27,000 merchants and to make person-to-person payments at millions of retailers that accept Visa worldwide. Consumers can also use the wallet for payments via various interfaces including web, mobile, social networks and at self-service kiosks.


The QIWI Wallet electronic payment system was launched at the end of 2007. The system allows customers to make payments online for utilities, mobile phone bills, internet, online purchases and bank loans.


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