The contact payment system has halted operations, preventing user transfers through the site. This disruption was reported by RIA News and has led to widespread questions about the stability of the service and the security of user funds.
When users attempt to initiate transfers, they encounter an unknown server error requesting a page refresh. The error is a technical glitch in the presentation of the service status and does not indicate an actual change in the underlying account balances or the overall health of the system.
On 21 February, the Central Bank of Russia withdrew the license from Qiwi Bank, the operator behind the contact payment system. The central authority stated that Qiwi Bank violated federal banking laws and regulations issued by the Central Bank. The violations also encompassed ongoing concerns related to anti-money laundering and the financing of terrorism, highlighting the gravity of the regulatory breaches involved in the decision to revoke the license.
Earlier, on 30 January, reports indicated that Qiwi had completed the sale of its Russian business, effectively transferring its Russian assets to new ownership. This move signified a major realignment of Qiwi’s operations within the country and raised questions about how regulatory oversight would be maintained during the transition.
There has been ongoing public interest in how depositors will be compensated following the license revocation. Specifically, many are asking when Qiwi Bank depositors will begin receiving insurance payments and what protections are in place to safeguard customer funds during the wind-down and regulatory resolution process. Analysts have noted that the bank licensing decision and subsequent actions could have ripple effects across the broader payments ecosystem, influencing consumer confidence and the availability of alternative payment channels in Russia and neighboring markets. [Cited: Central Bank of Russia; RIA News]