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Visa and QIWI Announce the Mass Launch of Contactless Smartphone Payments

Visa payWave based contactless payment option has been implemented in QIWI payment services. Through our cooperation, we have combined НСE1 technology with a co-branded Visa QIWI Wallet: now e-wallet users can use their smartphones to pay anywhere Visa payWave contactless cards are accepted.



MOSCOW, Aug. 18, 2015 (GLOBE NEWSWIRE) -- QIWI plc (NASDAQ:QIWI) (MOEX:QIWI) and Visa Inc. (NYSE:V) announced today implementation of a new stage of their strategic partnership, which has resulted in integration of Visa payWave's contactless technology into Visa QIWI Wallet. Now e-wallet customers can pay using their NFC-enabled mobile devices operating on Android 4.4 or higher in stores, cafes, cinemas, and hundreds of thousands of other points of sale equipped with contactless terminals worldwide.

This joint solution brought by Visa and QIWI offers millions of Visa QIWI Wallet users new payment options and makes contactless payments accessible and convenient for virtually every user who installs the corresponding application on his/her smartphone. Visa QIWI Wallet account can be topped up in any of more than 100,000 QIWI kiosks throughout Russia, by linking a bankcard, or from a mobile phone account. The contactless Visa payWave solution is preinstalled in the new version of the e-wallet. Those who have already installed the Visa QIWI Wallet application need only to download the latest update.

By combining their expertise, QIWI and Visa have ensured that the new service has a modern and technologically advanced security system. The effective algorithms used to verify the transactions are designed to protect users against fraud. The provided security complies with international standards, which have proved their practical reliability in different countries around the world.

"Contactless payment technology is gaining increasing popularity. According to analysts, almost 600 million NFC-enabled phones will be sold in 20152. Even today, contactless payments volumes amount to billions of dollars worldwide and we are pleased that through our partnership with Visa, we are able to offer our users this promising and convenient technology for their everyday purchases," said Anna Stoklitskaya, Managing Director of QIWI Group.

"Over the past year, the number of transactions made with Visa payWave in Russia has increased four times, while their volumes have increased seven-fold. Moreover, in СЕМЕА3, Russia ranks first in terms of the penetration of contactless payments made with Visa payWave cards. These facts convincingly prove that this technology is popular among cardholders, primarily due to its convenience and security. All you need to do is to hold your Visa payWave card or, now, your smartphone with the QIWI Visa Wallet app installed, up to the terminal. Transactions of up to 1000 rubles do not usually require a PIN4, and it takes only a fraction of a second for the card to communicate with the terminal. This in turn determines the segments where this payment method is highly in demand — supermarkets, gas stations and fast food restaurants. Now that contactless payments with Visa payWave have become a part of the QIWI e-Wallet, even more users in Russia can appreciate the benefits of this technology," said Andrew Torre, country manager for Visa Russia.

The new technology, which provides a secure way to make contactless payments using applications installed on Android-based devices, was presented by Visa at the World Mobile Congress in 2014. Thereby financial institutions were given an opportunity to use the benefits of Host Card Emulation (HCE), a new feature of the Android operating system that allows NFC apps to emulate a smart card on Android-based devices.

1 Host Card Emulation is a new feature of the Android operating system that allows NFC apps to emulate a smart card on Android-based devices

2 According to IHS Technology

3 Central Europe, Middle East and Africa

4 You can pay with a Visa payWave card by holding it up against a special Visa payWave terminal (a contact-based payment method may be required depending on the configuration of the terminal). Visa International Service Association (USA) provides the banks with an opportunity to issue Visa payment cards, use this product, and/or include this service among other services in accordance with applicable law. The issuing banks may impose restrictions on products, services and their use

About Visa

Visa is a global payment system that allows cardholders, merchants and service providers, and financial and government institutions in more than 200 countries and territories to access a secure and reliable electronic payment network. These electronic payments are provided through the global innovative VisaNet processing system, which is capable of processing more than 56,000 transactions per second while providing fraud-protection to consumers and payment guarantees to merchants and service providers. Visa is not a bank. It does not issue payment cards, or establish fees and commissions or interest rates for consumers. It also does not provide loans to cardholders. Rather, Visa's innovative solutions allow financial institutions to offer their customers a wide choice of financial instruments, including debit, prepaid or credit card products. For more information, please visit www.visa.com.ru.

About QIWI plc

QIWI is a leading provider of next-generation payment services in Russia and the CIS. It has an integrated proprietary network that enables payment services across physical, online and mobile channels. It has deployed over 17.3 million virtual wallets, over 177,000 kiosks and terminals, and enabled merchants to accept over RUB 50 billion cash- and electronic payments each month from over 70 million consumers using its network at least once a month. QIWI's consumers can use cash, stored value and other electronic payment methods to order and pay for goods and services across physical or online environments interchangeably.

CONTACT: Yakov Barinskiy Head of M&A and Investor Relations +7.499.709.0192 ir@qiwi.com Varvara Kiseleva Investor Relations +7.499.709.0192 ir@qiwi.com

Source:QIWI plc