QIWI electronic payment system is one of the most recognizable brands in Russia in its market segment. You can use it through offline terminals and a large number of online tools - a web interface or, for example, a mobile application. What are the features of this payment system? How do users comment on her work?
general information
QIWI wallet is a Russian payment system developed by the group of companies of the same name. This financial instrument allows you to make payments and money transfers in a wide range. There are a large number of ways to use a QIWI wallet: through a terminal, through a web interface, or through a mobile application. This payment service allows you to pay utility bills, replenish the balance on your cell phone, pay for the Internet, repay loans, buy plane tickets, trains - and this, of course, is not an exhaustive list of the possibilities of the service.
QIWI wallet is one of the most famous payment systems in the Russian Federation along with services such as Yandex.Money, Webmoney, PayPal. According to some reports, the service in question is the most popular in the Russian market.
In 2012, the payment system merged into a common brand with Visa. The QIWI wallet, thanks to this agreement, was able to issue its own plastic cards, which began to be in demand, as many experts say, in demand among Russian users. A little later we will study the specifics of the service that emerged as a result of QIWI and Visa collaboration.
How to use QIWI
Using this financial instrument is simple. It is enough to have a workable SIM-card of any Russian operator. The fact is that the cell phone number is the main payment identifier that uses the QIWI wallet. Registration of a new client of the system is carried out on the site. You need to enter, in fact, the phone number, and then wait for the SMS with the password. It can then be changed to your own. As soon as a person registers his QIWI wallet, the account in the account will look the same as, in fact, the mobile number. That is, if someone wants to transfer money to him, then no additional identifiers will be required.
You can replenish the balance of QIWI wallet in a variety of ways. It is considered traditional to use a branded terminal, which is in most Russian cities. QIWI also entered into agreements with some partner electronic payment systems that have similar devices at their disposal. The user can replenish the account in QIWI wallet with their help.
Another option is to transfer funds from a bank card. True, it needs to be linked to the account through the algorithm installed by the system. Having entered the number and other required card data through a special interface, you must wait until the system asks for confirmation of the corresponding binding by a number equal to the checksum that will be debited from the user's bank account. You can also transfer funds to the balance in QIWI through the offices of popular mobile phone stores, ATMs of many banks. Users are impressed by the presence of a large number of ways by which you can replenish your QIWI wallet. System customer reviews confirm this.
Now we will find out how to withdraw funds from the QIWI wallet. This can be done by transferring to a bank account, card, or by using the money transfer system. You can also cash out if the wallet owner has a QIWI Visa Plastic card. We will talk about this tool a bit later.
QIWI: Competitive Advantage
What are the most obvious competitive advantages of a QIWI wallet over other payment systems? It should be noted that many experts agree that Russian providers of relevant services - at least those that are among the market leaders - offer their users a generally very similar set of services. Some brands, if they are superior to competitors in something, almost always flaws are also found in their functionality.
If we talk about the strengths of the considered payment system, then many experts note the fact that the QIWI number of the wallet is identical to the telephone, and it is easier to remember. While many other providers of similar services identify accounts through very long personal account numbers. Experts believe that this played a significant role in gaining a leading position in the market where QIWI wallet is located. The reviews of many users confirm this: people admit that they choose this particular payment system because of the ease of identification.
ID confirmation
Due to the peculiarities of Russian legislation, transactions with many online financial instruments require confirmation of the identity of the person who carries them out. QIWI wallet is no exception. Registration using a cell phone is not a sufficient procedure from the point of view of some legal acts. The user of the system must confirm their identity by using one of the options proposed by the payment system. As a rule, this is connected with the provision of passport data to services affiliated with QIWI. A little later we will study the aspect that reflects the need to verify identity in the payment system, in more detail. Confirming his identity, the user gets access to almost all the functions that QIWI wallet offers. Visa card, in particular, can be issued subject to the successful identification of the customer service.
At the same time, it can be noted that, since the requirement to disclose the identity of users of electronic payment systems is established at the level of federal law, all providers of the corresponding services should bring their functionality into compliance with it. That is, QIWI, in principle, cannot be more competitive in this respect than other market players.
Company History and Business Model Features
The OSMP company, which owns the rights to the QIWI brand, appeared on the market in 2004. However, an independent payment system was established only in 2008. The year after the QIWI brand was launched, OSMP acquired the assets of another major payment system - E-port. Active expansion of the service began in a wide variety of segments. In particular, a significant emphasis in the development of the brand was placed on the distribution of offline terminals accepting banknotes.
For a long time, the QIWI electronic wallet could accept payments to be credited to the accounts of other systems, such as, for example, Yandex. Money ”, RBK-Money, Webtransfer. However, since 2011, the direct integration of QIWI and many other payment services has ceased to be implemented. According to one version, this was done in order to minimize competition.
In 2013, through the QIWI electronic wallet, users were able to make online microloans. The payment system began to provide this service in cooperation with Platiza, one of the first service providers in Russia in the then new lending segment.
A controlling stake in the company belongs to the management of the company, including its founder Andrei Romanenko. Significant share of Mail.Ru Group - it is 21.4%. Also part of the QIWI shares is owned by the Japanese corporation Mitsui Fudosan. QIWI CEO is Sergey Solonin. He is responsible for the board of directors, project office and other key divisions of the company.
QIWI and Visa
Consider the specifics of the services provided by QIWI in conjunction with one of the world's largest processing brands - Visa. As you know, Visa specializes in providing payments through bank cards. Actually, this is the main subject of cooperation between the Russian company and Visa.
QIWI issues plastic cards, and Visa serves them. The domestic company got the opportunity to expand the market, and the American company - to strengthen its position in the growing Russian market, including in the field of online payments. Both corporations, thus, introduced to the market a new brand - Visa QIWI Wallet. The wallet, which is accessed via a cell phone, was thus tied to one of the solutions offered by the American company. This is a "digital" Visa card or a full plastic one. QIWI and Visa also offer an interesting Virtual product. What are the features of using each of the cards?
Cards: digital and plastic
A “digital” card, or QIWI Visa Card, is designed to pay for goods and services on the Internet. That is, the user, entering her number and other data, can pay with online stores, buy plane or train tickets on specialized sites and make other payments that require a bank card.
In turn, the “plastic” from QIWI and Visa is actually a full-fledged bank card. With its help, you can withdraw cash from ATMs, pay in stores - Russian and foreign. Also, through its use, you can cash money from your wallet through any ATM in Russia and abroad, which is serviced by the Visa system.
QIWI wallet offers its users another interesting tool - QIWI Visa Virtual. This, one can say, is also a “virtual” analogue of a plastic card. Its functionality is basically the same as that of the QIWI Visa Card, however it is not tied to the QIWI user account. The advantage of this product is that it can, for example, be presented.
Note that many other Russian suppliers of electronic payment solutions have products similar to those discussed above that are provided to their users by QIWI. For example, the owners of Yandex. Wallet have the opportunity to use cards issued by a Russian company in cooperation with Visa, the main competitor in the processing market, MasterCard. As in the case of QIWI, Yandex has virtual and full plastic cards.
Thus, thanks to a partnership with VISA, the Russian system offers users almost all the basic payment tools that are available on the market today - online interfaces, terminals, and bank cards. However, QIWI partnerships continue to expand. One illustrative example is the cooperation of the electronic payment system with MegaFon. Learn the details of this partnership.
QIWI and MegaFon
Among the latest news on the Russian market of electronic payments is the creation by two Russian brands of a common product based on the QIWI wallet and the Megafon. Money". As evidenced by data in a number of sources, the companies went to the corresponding agreement for quite some time. Before starting a joint project, the companies agreed on technical nuances for about a year. The result was a product that, according to some experts, has no analogues on the Russian market.
The combined electronic wallet opens up a wide range of opportunities for electronic payments to MegaFon subscribers. In principle, we can say that almost all of the tools that QIWI wallet has are available to the operator’s customers. At the same time, you can make a payment using the balance on your account - this is the specificity of the new product. Another noteworthy aspect of using the combined service, experts call the payment of fees to MegaFon subscribers for making payments. They are credited to the user's balance. Their value is 0.5% of the amount of the payment, if it is not payment for the services of mobile operators. Another condition for calculating the bonus is that the payment should relate to those for which the system does not charge a commission. This opportunity, which is offered by MegaFon and the QIWI wallet, received extremely positive feedback from users and experts.
The service interface allows MegaFon subscribers to see their balance, replenish it, and also transfer funds to the accounts of friends and relatives. At the same time, you can configure the option in which the balance of other people will also be visible to the user: for this, the person must send a request to his friend, and he will confirm his consent to the provision of personal account details. This is convenient if, for example, parents want the balance on the children's phone to be in control. It is expected that soon QIWI and MegaFon will also launch a card product.
Innovation in the law
We noted above that Russian legislation sufficiently strictly regulates electronic payments made on the territory of the Russian Federation. At the same time, as some experts note, the corresponding aspect of lawmaking tends to gradually tighten. So, for example, recently a bill was submitted to the State Duma that provides for a reduction in the maximum amount of electronic transfer between users whose identity is not verified, to 1 thousand rubles. While now this value is 15 thousand rubles. The bill also contains the wording according to which the maximum amount of money placed on the account of the electronic payment system cannot exceed 5 thousand rubles if, accordingly, the user has not confirmed his identity. Now this value is also 15 thousand rubles.
This legislative initiative, according to many experts, served as a factor in the sharp drop in QIWI quotes on the NASDAQ exchange in January 2015. So, during one of the trading sessions, the indices of the Russian company decreased by more than 19%. Significantly, QIWI shares declined on the MICEX - by 7%. Top managers of the Russian payment system in the comments of the media expressed hope that the bill would nevertheless be finalized in favor of softening the wording. Or, for example, the relevant legal act will provide for the possibility of a simplified procedure for confirming the identity of users in comparison with the current scheme. QIWI management also expressed its willingness to send representatives to participate in a working group on this issue.
User Feedback
What do Russian users using the QIWI wallet say? Customer reviews of the company who had experience with this payment system are generally positive. They are mostly satisfied with the services they provide. In particular, in a positive way, people say that transferring money to a QIWI wallet is quite easy - this can be done both through the terminal and through a bank card.
They praise the system for those solutions that are implemented together with Visa. Especially convenient users call the "digital" version of the payment card, which is called QIWI Visa Card. In particular, the fact that it is replenished without a commission through fairly common terminals is noted in a positive way. QIWI wallet, users believe, allows you to pay the bulk of everyday services, and very rarely there is a need to find other means of payment or go to the bank in order to make the necessary payment.
High quality technical support is noted. In particular, many users had problems with the incorrect crediting of funds to their account. In most cases, such situations with the assistance of the support service were resolved very quickly.
Among the shortcomings of the system, noted by users, is the fact that many services allow paying for a QIWI wallet subject to a relatively high commission. Also, many QIWI customers believe that it would be useful for the company to expand the partner network: in many third-party systems there is no possibility of replenishing the account of the largest Russian provider of electronic payment services.