Qiwi Brokers 2021 | Brokers That Accept Qiwi Payments
Qiwi Wallet is an online and mobile payment system based largely in Russia and a few other supported countries. The payment service provides an e-wallet for storing the customer’s bank cards and Qiwi virtual or plastic Visa cards.
In this review, we’ll explore the account login and verification process and how the service matches up to other competitors, such as PayPal. Find out if you should transfer money into your trading account using Qiwi.
Qiwi Brokers
Quotex offers a proprietary web platform that offers digital options and copy trading.
Overview
Founded in 2007, the group is headquartered in Nicosia, Cyprus, but has an additional office in Moscow, Russia. In 2008, the Qiwi Wallet was introduced, launching push payments at checkouts in Russia. The Qiwi Visa card was then introduced, marking the start of the company’s international development.
The company has roughly 170, 000 of its own self-service payment terminals in Russia. These kiosks are traditional ATM-style machines that accept cash payments and top-up services for utilities, phone bills, internet, entertainment, games and so on. Each month, 65 million customers pay over 39 billion Rubles (around $1. 3 billion).
Customers can also transfer funds online from other virtual wallets such as Yandex and WebMoney, or from a bank card, mobile phone, or via bank transfer.
Pros Of Trading With Qiwi
Strong Reputation
The brand has been around for over a decade, serving millions of customers each month and partnering with over 40, 000 vendors. The group is also traded on the NASDAQ stock exchange and is offered at several well-known brokers with a decent market cap. Stock forecast and dividend details can be found on the payment provider’s website.
Mobile App
Qiwi is available as a mobile app that you can download from Google Play or the App Store. The app allows traders to view their deposits, manage their account balance 24/7 and transfer money quickly whilst on the move. Qiwi is also supported on Google Pay and Apple Pay.
Plastic & Virtual Cards
Traders also have the flexibility of depositing using their own bank cards or a Qiwi virtual or plastic Visa card, which can be stored in their e-wallet. Once an account has been created customers can also use their wallet to buy Bitcoin (BTC) and other cryptocurrencies.
Real-Time Payments
Payments with the Qiwi Wallet are processed instantly in real-time, which is ideal for traders who want to trade straight away. Note that some brokers may have separate time frames for processing deposits and withdrawals on their side.
Fast Registration
Only a phone number is required to register for a Qiwi Wallet, meaning the overall account opening and sign up process is faster than similar services such as Yandex.
Offers & Deals
Traders also enjoy other benefits, such as special offers for Beeline, MegaFon and Tele2 customers when you pay for everyday services. Some merchants also offer Qiwi gift card options.
Cons Of Trading With Qiwi
Limited Currencies
Qiwi currently only transacts in RUB, EUR and USD, which is not the widest choice compared to other payment services such as Skrill or Sofort.
Limited Supported Countries
Qiwi is currently only supported in 20 countries, including Russia, Kazakhstan, Moldova, Romania, Belarus, Latvia, Ukraine, Armenia, Jordan, Israel, India, Australia, Egypt, Indonesia, Kenya, Canada, and the UK.
English Site Not Available
The payment provider’s website does not provide any language change options to English or any other language, so traders from the UK or elsewhere will need to ensure that their browser settings translate the pages automatically.
Transaction Volume
The maximum transaction volume allowed is 15, 000 RUB (around 150 GBP), which may be limiting for more seasoned traders.
Speed
Payments are actioned instantly, though your broker may have their own processing time frames. For example, AAAFx processes deposits in 1 business day, whilst BCS Forex and Tickmill process deposits instantly. Withdrawal times can also vary depending on the broker. Fortunately developers continue to keep up to date with the latest technology education to ensure rapid payments.
Security
Qiwi uses the 3DS (3D Secure) identification framework which verifies the cardholder’s identity before payment and protects against card theft. Upon verification, a one-time code is sent via SMS to the customer’s phone to confirm the purchase. As a result, traders can have peace of mind that their deposits are safe with the Qiwi Wallet.
Deposits & Withdrawals
Once you have a verified account, look out for the Qiwi logo in your trading account to make a deposit or withdraw revenue after reaching your price target.
There may be minimum or maximum funding limits depending on the broker, so make sure to check these beforehand. The minimum deposit at Tickmill, for example, is 100 (USD/RUB/EUR), whilst requires a minimum deposit of at least 20 in the chosen currency.
You will then be redirected to the payment gateway in the Qiwi portal, where you will be asked to enter your account number, password and one-time SMS code. You will then receive payment confirmation in real-time.
Costs
It is free to open an account and top up your Qiwi Wallet, but there may be fees for payment transfers. For example, bank card replenishments are 1% up to 2, 000 RUB and 0% above 2, 000 RUB.
Your broker may also charge their own service fees. For example, AAAFx charges 4. 2% for deposits, whilst BCS Forex charges 2. 5% for withdrawals.
Is Qiwi A Good Choice For Traders?
Qiwi offers fast account registration, real-time payments in USD, EUR or RUB, and e-wallet transfers to and from other services, such as WebMoney and Yandex.
However, Qiwi does charge some fees depending on the wallet payment method, so traders should bear this in mind if their broker also charges commissions. Furthermore, unless you are based in Russia and can enjoy the other local benefits of Qiwi, it might be worth considering other more accessible deposit methods, such as PayPal, Skrill or Neteller.
FAQ
What is a Qiwi Wallet?
A Qiwi Wallet allows customers to make purchases online or using their mobiles without needing to provide bank account details or a card number.
Is Qiwi legit?
Yes, the Qiwi Group is a trusted and legitimate company. Qiwi is transparent with its company information, including its ownership structure, board of directors and dividend payments. These can be found in the investor relations section on the website. Information on company earnings, stock forecasts, news and revenue is also publicly available.
How do I register with Qiwi Wallet?
You can open a Qiwi Wallet account by providing your phone number and verifying your account using the secure SMS code. Note that Qiwi only currently supports 20 countries.
How does Qiwi Wallet work?
Your wallet can be loaded with virtual or plastic cards and can be used to make deposits quickly into your trading account. You can also make money transfers between other e-wallets.
Is Qiwi safe?
Yes, Qiwi uses the 3D secure framework when verifying a customer’s identity online. This helps to prevent card theft and fraud.
Does Qiwi Wallet work in the USA?
Some merchants in the US may offer Qiwi as a payment method, however, it is not possible to open a Qiwi account if you are from the US.
Should You Invest in Qiwi, the “PayPal of Russia”? – The …
Is the payments processor a hidden gem or a lump of coal?
Many American investors tend to avoid Russian stocks due to concerns about political risks, possible sanctions, and currency headwinds. Some high-growth Russian tech stocks were, however, tossed out with the bathwater in recent years.
One such stock is Qiwi (NASDAQ:QIWI), a mobile payments processor often called the “Russian PayPal (NASDAQ:PYPL). ” Qiwi lost nearly 40% of its market value over the past 12 months, even though its revenue is still growing at double-digit rates. Let’s take a closer look at Qiwi and see if it’s a hidden gem or a lump of coal.
Image source: Getty Images.
What does Qiwi do?
Qiwi is based in Cyprus, but it generates most of its revenue from Russia. It provides online payment services in Russia, Kazakhstan, Moldova, Belarus, Romania, the United Arab Emirates, and other overseas markets. Users can send payments via online and mobile channels, or through its network of over 150, 000 kiosks and terminals.
Qiwi Wallet, which provides customer-to-merchant and peer-to-peer transfers, is similar to PayPal’s core app. Its total number of Wallet users rose 13% annually last quarter to 20. 3 million. Like PayPal, Qiwi provides Visa-branded prepaid cards. It also offers pay-by-installment card systems through its SOVEST brand, along with other value-added services.
Qiwi recently acquired two other banking brands, Tochka and Rocketbank, to expand its presence with small to medium-sized enterprises (SMEs). The acquisition of those brands, which were previously held by Russian banking giant Otkritie, formed the foundation for a new joint venture between Qiwi, Tochka, and Otkritie earlier this year. Otkritie nearly took a majority stake in Qiwi last year, but the deal was terminated after an insufficient number of shares were tendered.
How fast is Qiwi growing?
Qiwi’s adjusted net revenue rose 41% annually to 4. 1 billion rubles ($71. 6 million) last quarter as its Payment Services segment revenue rose 26% to 3. 7 billion rubles ($64. 1 million). Its total Payment Services volume climbed 20% to 249. 2 billion rubles ($4. 4 billion). Qiwi attributes that growth to rising e-commerce and money remittance transactions.
Qiwi’s first quarter figures include its new revenues from Tochka and Rocketbank. The launch of those projects (especially Tochka and its tech service agreements with Otkritie) boosted Qiwi’s revenues from SMEs to 420 million rubles ($7. 3 million), compared to nothing in the prior year quarter.
Qiwi Wallet. Image source: Google Play.
For the full year, Qiwi expects its adjusted revenues to rise 15%-20%, compared to its prior forecast for 12%-16% growth. Its updated forecast includes revenues from Tochka and Rocketbank for the first half of the year, while its older forecast assumed no meaningful revenue from the two brands.
This means that Qiwi’s ADR shares currently trade at about 3. 5 times the midpoint of its adjusted revenue estimate for 2018, but that valuation could fluctuate due to changing foreign exchange rates. By comparison, analysts expect PayPal’s revenue to rise 18% this year, but the stock trades at almost seven times that estimate.
How profitable is Qiwi?
Qiwi’s top line growth looks promising, but its bottom line growth is less encouraging. Its adjusted EBITDA slid 5% to 1. 45 billion rubles ($25. 3 million) last quarter, its adjusted net profit dropped 15% to 1. 08 billion rubles ($18. 9 million), and its net profit from its Payment Services segment tumbled 27% to 2. 2 billion rubles ($38. 6 million).
Qiwi attributes those declines to higher expenses related to its SOVEST and Tochka projects, higher advertising and client acquisition expenses, and higher administrative and credit loss expenses. Higher tax rates and unfavorable foreign exchange headwinds also took a bite out of its net profits.
For the full year, Qiwi expects its Payment Services net profit to rise 10%-15% as a few headwinds fade and it reaps the benefits of the Tochka and Rocketbank deals. However, it still expects its adjusted net profit to decline 0%-10%. Qiwi’s ADR shares currently trade at roughly 15 times the midpoint of that estimate assuming share counts and foreign exchange rates remain constant. Investors should also note that many websites still report that Qiwi pays a 5% dividend yield — but it suspended that dividend last year.
Those numbers compare poorly to PayPal’s estimated growth rate of 23% this year. PayPal’s stock is certainly pricier at 36 times this year’s earnings, but that premium is justified by its growth.
The verdict: Stick with PayPal for now
PayPal generates more stable returns than Qiwi, and it also has a presence in the Russian market. Qiwi’s prospects might improve once it stabilizes its earnings growth and the ruble rebounds, but the potential rewards don’t outweigh the risks yet. I’m keeping an eye on this stock, but I probably won’t buy it anytime soon.
This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.
Motley Fool Returns
Stock Advisor
S&P 500
657%
140%
Join Stock AdvisorDiscounted offers are only available to new members. Stock Advisor will renew at the then current list price. Stock Advisor list price is $199 per year.
Stock Advisor launched in February of 2002. Returns as of 10/24/2021.
Cumulative Growth of a $10, 000 Investment in Stock Advisor
Calculated by Time-Weighted Return
Average returns of all recommendations since inception. Cost basis and return based on previous market day close.
Related Articles
Is This Russian Tech Stock a High-Yield Hidden Gem?
Qiwi plc Stock Upgraded: What You Need to Know
5 Russia Stocks to Consider Buying
Why QIWI PLC Shares Sank Today
Why QIWI PLC Shares Popped
What is Qiwi? Full Payment Method Definition – Ikajo
Qiwi Wallet is an e-wallet, based on a Visa Prepaid Account. As for today, it encounters over 20. 3 mln active consumer accounts. Thanks to Qiwi Wallet, consumers can securely pay over 10, 000 merchants.
Qiwi Wallet provides users with access to Visa products with universal acceptance and security. Moreover, the Qiwi account can be connected automatically to a virtual or physical prepaid card. It can then be used to make purchases at retailers that accept Visa worldwide. Af for today, QIWI is the best solution for merchants willing to penetrate Russia, Ukraine, Kazakhstan. The payment method is not popular outside the areas mentioned above.
Countries of QIWI payment method incorporation
Qiwi is one of the largest Russian e-wallets. When the brand (with its kiwi bird logo) was introduced to the audience in 2007, the company wasn’t a small start-up at all.
In fact, e-wallet was launched by the OSMP Group, the most significant Russian cash terminal network. The service’s major advantage lies in its full availability in offline and online worlds. Qiwi’s has 200, 000 cash terminals operated by OSMP, its owner.
The core difference between Qiwi and other e-wallets is that Qiwi accounts can be accessed via both cash terminals and any smartphone.
Statistic on QIWI e-Wallet
Take a look at some statistics on Qiwi e-wallet:
Over 20 supported payment methods
200, 000 payment kiosks in Russia, Kazakhstan, Ukraine
20, 000 + merchants
7, 600, 000 active eWallet accounts (total of 47 million registered accounts)
QIWI shopper journey overview
Let’s take a look at how Qiwi functions once a merchant adds it as a payment method:
On the check-out page, the user selects the Qiwi payment method.
The user is redirected to the Qiwi payment page.
The user selects the payment option that he wants to use and enters his password to complete the payment.
QIWI maximum transaction volume
For payments in RUB, the maximum transaction limit is RUB 15, 000. For payments in USD, it is the USD equivalent of RUB 15, 000. Keep in mind that it is calculated according to the Qiwi’s exchange rate.
How to integrate QIWI as a payment method on your website?
You, as a merchant need Qiwi e-wallet to reach out to Russian, Ukrainian and Kazakh audience. To add Qiwi as a payment method, you need to find either an acquiring bank or the PSP that offers Qiwi. At Ikajo, we can help you to accept Qiwi payments easily and hassle-free.
Frequently Asked Questions about qiwi paypal
How do I send money to qiwi?
To transfer funds to Qiwi, you need to go to Transfers section, select «Transfer to a bank card» and input your Qiwi card details. Qiwi card and Qiwi wallet are one, so funds will reach your Qiwi wallet.
Does qiwi work in USA?
Does Qiwi Wallet work in the USA? Some merchants in the US may offer Qiwi as a payment method, however, it is not possible to open a Qiwi account if you are from the US.
What is qiwi good for?
Qiwi Wallet, which provides customer-to-merchant and peer-to-peer transfers, is similar to PayPal’s core app. Its total number of Wallet users rose 13% annually last quarter to 20.3 million. Like PayPal, Qiwi provides Visa-branded prepaid cards.Jun 28, 2018