ASTANA, Kazakhstan, April 23. QIWI (an innovative provider of cutting-edge fintech services) plans to develop its business in payments and financial services in Kazakhstan after leaving the Russian market, Trend reports.
"QIWI will primarily focus on developing its payment and financial services business in Kazakhstan (including payment acceptance through kiosks, mass payouts, internet acquiring, payment gateways, and digital wallets), payment processing business in the growing region of the UAE, as well as its investments in fast-growing fintech companies in the MENA, SEA, and EU regions," the company said.
The company also actively analyzes global opportunities for non-organic growth through M&A in the payment and fintech sectors, where it has accumulated extensive expertise.
The management of QIWI believes the company has a strong balance sheet and cash position that enable it to continue its further development.
On February 21, the Central Bank of Russia (CBR) revoked the license of QIWI Bank.
The official announcement stated that this action was prompted by the bank's breach of federal laws governing banking activities as well as regulations set by CBR. Consequently, over the past 12 months, the regulator has applied measures to the bank five times, including imposing restrictions on specific operations on two occasions.