Qiwi Group, the owner of the well-known payment service, has completed the initial stage of its restructuring, bringing all Russian assets under a single local legal entity. This move is part of a broader plan to separate Russian operations from international ones, with a clear timetable that aims to split assets by September 2023. This development has been reported by TASS, the Russian news agency. The consolidation marks a significant shift in how the group manages its diverse asset base, aligning corporate structure with regulatory expectations and market realities in both domestic and international contexts.
In the company’s official communications, Qiwi plc announced that the consolidation of Russian assets is proceeding within the framework of Qiwi JSC. The message emphasized that the first phase of the restructuring has been completed, reaffirming the group’s intention to streamline ownership and governance across geographic lines. This step follows earlier statements from the group about a deliberate separation between international operations and the Russian business, signaling a move toward clearer accountability and more focused strategic execution across each market segment.
Previously, the Qiwi group disclosed plans to bifurcate its operations into two distinct streams: an international business arm and a Russian segment. The aim was to ensure that international activities, including cross-border payments and overseas partnerships, would sit under Qiwi Plc and be publicly traded on major exchanges, while the Russian operations would be consolidated under a separate legal entity. This bifurcation approach reflects how the group intends to manage regulatory, financial, and market dynamics across jurisdictions while preserving the value created by its flagship payment platform for users in both domestic and international markets.
According to the company’s statements, the international business would remain part of the Qiwi Plc umbrella, with securities listed on notable markets such as the Nasdaq and the Moscow Stock Exchange. In contrast, the Russian business would be integrated within Qiwi JSC, a structure designed to optimize local governance, risk management, and compliance with Russian regulatory requirements. The plan illustrates a clear separation of operational risk and capital allocation between the two entities, allowing each to pursue tailored strategies aligned with regional consumer behavior and payment ecosystems.
Industry observers note that the job separation process was expected to reach completion by the end of August, contingent on approvals from the Central Bank. This regulatory oversight underscores the careful coordination required to implement structural changes that affect licensing, consumer protections, and financial reporting within the Russian market. The timeline also highlights the importance of regulatory alignment as a foundation for sustaining trust among customers, banks, and partners across both domestic and international channels.
In February, Roskomnadzor added Qiwi to its register of dissemination organizers, signaling continued regulatory engagement as the restructuring advanced. This inclusion reflects ongoing scrutiny of information flows, payment infrastructure, and data handling practices in a market where regulatory expectations directly influence operational flexibility and user access. The company’s ongoing dialogue with authorities demonstrates its commitment to maintaining compliance while executing a strategic realignment of its corporate footprint.
Throughout these developments, the broader context involves navigating Russia’s evolving financial landscape, where authorities periodically review ownership structures, capital flows, and market integrity. The Qiwi restructuring illustrates how payment platforms adapt to regulatory guidance and market demands, seeking a balance between local strength and international growth. Observers will be watching closely to see how the split affects product offerings, customer experience, and the competitive dynamics in digital payments across both Russia and overseas markets. [Cited: Qiwi Group press releases and regulatory filings, 2023 where applicable]