The Bank of Russia excluded Qiwi Bank and Contact from the register of payment systems – Kommersant
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The Bank of Russia excluded Qiwi Bank and its Contact payment system, through which money was transferred abroad, from the register of payment system operators, it follows from the regulator’s materials (.xlsx). Yesterday, February 21, regulator recalled license from Qiwi Bank due to the participation of a financial organization in settlements between individuals and crypto exchangers, bookmakers, as well as online casinos.
The Bank of Russia announced the revocation of a banking license from a financial organization for the first time since August 2022. The regulator explained that over the past 12 months, it has repeatedly applied “supervisory measures” to Qiwi Bank, which is one of the top hundred in the Russian Federation by assets, and has twice introduced “restrictions on certain operations.”
Due to the revocation of the license, the Qiwi mobile application and the Contact payment system stopped working. The revocation of the license from Qiwi Bank led to large-scale disruptions in payments for housing and communal services and cellular communication services, in mobile applications and gaming services, as well as taxis. Moscow Exchange introduced ban on short selling on Qiwi receipts from February 22.
Read more in the Kommersant article. “Citizens’ Qiwi wallets were cut off”.
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