News

Russian e-wallet kiosk operator sees 46 percent rise in revenues

May 28, 2014

Qiwi, which operates a network of self-service kiosks in Russia and the Commonwealth of Independent States allowing consumers to deposit cash to Visa Qiwi e-wallets, saw its total adjusted net revenues grow 46 percent year-on-year to RUB 1,877 million ($52.6 million) in the first quarter of 2014, according to an announcement.

Moscow-based Qiwi has translated Russian Ruble amounts into U.S. dollars at a rate of RUB 35.687 to $1.00, which was the official exchange rate quoted by the Central Bank of the Russian Federation as of March 31, 2014.

Qiwi increased its adjusted net profits by 72 percent year-on-year to RUB 785 million ($22.00 million) in the first quarter of 2014, while its total payment volume increased by 20 percent to RUB 149.6 billion ($4.2 billion).

Customers can use their Qiwi e-wallets to pay bills, top up mobile airtime and make online and physical purchases.

As of March 31 2014, Qiwi said, it had 15.6 million e-wallets, 167,713 kiosks and terminals in operation and 75,000 merchants who accept cash and electronic payments monthly from 70 million consumers using its network at least once a month.