QIWI plc operates as a provider of next generation payment services primarily in Russia and the CIS. The Company has an
integrated network (including approximately 160,000 kiosks) that enables payment services across physical, online and mobile channels. It enables merchants to accept cash and electronic payments from virtual wallets, and operates cash-collecting terminals and kiosks. QIWI plc is based in Moscow,
the Russian Federation.
The Russian economy is approximately 90% cash-based and there is a general mistrust of Banks. Apparently, QIWI has become a brand that the population trusts.