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Russian company enters Azerbaijani payment systems market

ICT Materials 21 January 2011 18:46 (UTC +04:00)

Azerbaijan, Baku, Jan. 21 / Trend H.Valiyev /

The Russian instant payments system QIWI Ltd. is planning to open a representative office in Azerbaijan, QIWI PR Manager Julia Mansurova told Trend.

Mansurova said the company has developed and presented a ready solution in the Azerbaijani market on a turnkey basis (a set of hardware and software) to organize the system of payments for natural gas use in the SMART-terminal (meters).

"The market in Azerbaijan is very attractive for us. According to our estimates, the country will demand quick and convenient payment service for goods and services through terminals QIWI. We plan to enter the country's market in 2011. We hope that with our presence, the country will have a new convenient payment service, new jobs will be opened, and small businesses will receive a new impetus for development. And, of course, with the beginning of our work, we will become members of many projects in Azerbaijan, as today we see a high potential in them," Mansurova said.

QIWI Ltd. develops an instant payments market in over 15 countries in Eurasia, Africa and Latin America. The holding company includes the Joint System Instant payments - OSMP (consumer brand QIWI), electronic money QIWI Wallet, Bank "1st Processing", advertising system "QIWI Advertising," a manufacturer of equipment for the fiscal payment terminals PAY Kiosk and organizer of the lottery terminals LotoIntegrator. The holding company was formed in July 2007. Founders were Mail.ru Group Fund (formerly known as Digital Sky Technologies) and management companies OSMP and E-port.

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