QIWI to acquire Money.Mail.Ru

Exchangers on-line: 95 Last update at 22:14:03
QIWI to acquire Money.Mail.Ru

The Mail.Ru Group are selling their Money.Mail.Ru project to the QIWI Group. The transaction amount not announced, but it could be no less than 10 million USD.

The Mail.Ru Group are selling their Money.Mail.Ru project to the QIWI Group. The transaction amount not announced, but it could be no less than 10 million USD. QIWI have been considering the acquisition of an external instant payments system. Lately, the Unistream payment system has made them an offer for estimated 2 billion RUR, but it failed to proceed.  

Dmitry Grishin, CEO and co-founder of the Mail.Ru Group, says: ‘The Money.Mail.Ru project has always been a non-core business for us, while our partner QIWI specializes in payment services. That’s why I’m certain the project has a whole new exciting future ahead of it’.

Boris Kim, сhairman of QIWI directors’ board, says: ‘The synergy of our services will benefit our customers through a more functional and convenient payment service’.

Experts say, 1 to 2 million users perform payments through Money.Mail.Ru. Since 2009, over 1.3 accounts have been registered in the system, and half of them still remain active. In 2014, at least 6% of Russians were using the service. For reference: 14% of Russians use PayPal, 19% are with WebMoney, 22% prefer Yandex.Money, and 21% making payments through the e-wallet of QIWI.

Source: http://investor.qiwi.com/releasedetail.cfm?ReleaseID=884989.

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