Qiwi is a leading provider of payment and financial services in Russia and the CIS, standing at the forefront of fintech innovations to facilitate and secure the digitalization of payments. The company offers payment services through digital wallets and applications, physical kiosks, merchant acquiring services, digital marketing, and software development, serving B2B markets including e-commerce, taxi, and B2C customers.
Cyborg Score Rationale
Qiwi maintains market leadership in payment services across CIS region with diversified revenue streams from payment services and consumer financial products. However, the company faces regulatory challenges related to its Russian business operations and geopolitical risks impacting growth.
Top Insights
Qiwi delisted from NASDAQ in September 2024 and obtained primary listing on Astana International Exchange
Qiwi operates electronic payment systems across Russia, Kazakhstan, Moldova, Belarus, Romania, and UAE, generating maximum revenue from Payment Services segment
Qiwi offers digital wallet, kiosks, and merchant acquiring services through both virtual and physical distribution channels
Company implemented restructuring plan to divest Russian assets and derive less than 5% revenue from Russian Federation
Named Competitors
Yandex.Kassa — Russian payments and fintech platform
Sberbank Payment Services — Russian banking and payment services
Payoneer — Global digital payments platform
Recent Developments
(September 2024) Delisting from NASDAQ and primary listing on Astana International Exchange
(June 2023) Received approval from Nasdaq Hearings Panel to continue listing subject to restructuring conditions
(March 2023) Received delisting notice from Nasdaq related to Russian sanctions by OFAC
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