The operating company is a large financial services provider, responsible for the employment of well over a thousand people. The vast majority of these are located within Russia, with a handful living in each of the other countries which operate the service. The largest office operating outside Russia itself is Kazakhstan, which has less than fifty employees.
The service has more than 22 million account holders worldwide, with more than 13,000 different merchants and retailers accepting Qiwi payments. Every month, the service processes over 100 billion roubles (RUB) worth of transactions.
The company’s 2019 Financial Report (the last year for which results are available at the time of writing) showed revenues of over RUB 23,000 million (about $375 million). This is an increase of around 18% on the previous year. Net profits were up over 60% at more than RUB 6,500 million (about $108 million). These results were achieved on a turnover of just under RUB 1,500 billion (around $24 billion).
How Does Qiwi Work?
Kiwi is a pre-paid online wallet which can be used to make online purchases for goods and services. It is a member of the Visa network, so it can be used internationally to make payments outside Russia.
Within Russia and neighbouring participating nations, customers can load their wallets for free at Qiwi outlets, offices and kiosks. Other permissible methods for uploading funds include online banking, cash machines, debit cards or by manually paying in funds at participating banks and retailers. There is usually a charge for uploading funds by any of these alternative methods though.
The service can be used for personal transfer of funds between friends and family, and for international transfers too. The company issues real plastic pre-paid cards to enable the Qiwi service to be used in real world stores, in addition to their virtual e-wallet accounts and cards.
Qiwi can be used for just about any kind of transaction within its main operating area, including for utility bill payments, travel and entertainment, as well as any kind of online transactions. An app is available for use for mobile devices. In non-participating countries outside Russia, it can be used for online purchases only.
Qiwi and Online Gaming
Qiwi is not generally available for use in the United Kingdom. However, increasing numbers of online gaming operators are accepting it as a method of payment for their Russian and other East European based customers. This includes online casinos which are registered for the United Kingdom market. Indeed, Progress Play powered casinos always include it as a deposit option for their players. Look out for the logo at the online Banking page of your chosen Progress Play casino.