QIWI is a leading provider of next generation payment and financial services in Russia and the CIS. It has an integrated proprietary network that enables payment services across online, mobile and physical channels. It has deployed over 21.5 million virtual wallets, over 141,000 kiosks and terminals, and enabled merchants and customers to accept and transfer over RUB 101 billion cash and electronic payments monthly connecting over 45 million consumers using its network at least once a month. QIWI’s consumers can use cash, stored value and other electronic payment methods in order to pay for goods and services or transfer money across virtual or physical environments interchangeably.
A PayFac is a company that simplifies the payment process for sub-merchants by providing a unified platform. They act as a middleman between the sub-merchant and the acquiring #bank and handle all the necessary compliance and underwriting processes.
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