Visa installs its payWave application on Russia's Qiwi e-wallet

Visa has integrated its payWave's contactless technology into Russia's Qiwi e-wallet.

Visa installs its payWave application on Russia's Qiwi e-wallet

It will enable e-wallet users to use their smartphones to pay anywhere Visa payWave contactless cards are accepted.

The co-branded Visa/Qiwi wallet uses cloud-based HCE technology to bring mobile payments to NFC-enabled devices operating on Android 4.4 or higher for use in stores across Russia and worldwide.

Visa QIWI Wallet account can be topped up in any of more than 100,000 QIWI kiosks throughout Russia, by linking a bankcard, or from a mobile phone account. 

The contactless Visa payWave solution is preinstalled in the new version of the e-wallet. Those who have already installed the Visa QIWI Wallet application need only to download the latest update, QIWI said in a statement.

QIWI added that the effective algorithms used to verify the transactions are designed to protect users against fraud. 

Anna Stoklitskaya, managing director of QIWI Group, said: “Contactless payment technology is gaining increasing popularity. According to analysts, almost 600 million NFC-enabled phones will be sold in 20152. Even today, contactless payments volumes amount to billions of dollars worldwide and we are pleased that through our partnership with Visa, we are able to offer our users this promising and convenient technology for their everyday purchases.”