Payment technology

Russian wallet service QIWI to acquire Blestgroup Enterprises

QiwiQIWI, Russia’s number one digital wallet service, recently announced the acquisition of Blestgroup Enterprises.

Previously, QIWI owned 37.5 percent of Blestgroup, the firm that holds a long-term contract on terminal placement in more than 1,000 spaces in Russia’s retail network.

“We are pleased to announce acquisition of Blestgroup,” QIWI CFO Alexander Karavaev said. “This deal will allow us to further strengthen our QIWI Distribution business by providing our agents with some of the best locations across Russia.”

QIWI, which was launched in 2007, operates more than 167,000 kiosks and terminals across Russia and Commonwealth Independent States, allowing retailers to accept $1.4 billion in cash and electronic payments from over 60 million customers. Major shareholders include CEO Sergei Solonin, QIWI Board Chairman Andrey Romanenko and Mitsui & Co.

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