PayPal and eBay Tap into Russian Market with QIWI

EBay and PayPal have teamed up to bring Russian customers a new and safe way to make payments on eBay’s site with some help from QIWI, a Russian payment service that allows customers buy online as if they’re using cash.

Since cash payments have been so dominant in Russia, the new service should expand eBay’s reach, allowing more people to safely complete online transactions.

QIWI, which has over 100,000 kiosks across Russia, will be introducing their Visa QIWI Wallet, which customers can upload money to from a credit or debit card, bank account, or even via cash.

Customers can complete the transfers using QIWI’s website, smartphone app, or kiosks. Using QIWI Wallet will now be an option alongside PayPal and credit card on eBay.

“This is a significant strategic milestone for eBay in Russia which demonstrates our commitment to making online shopping safe and convenient for Russian consumers,” Head of eBay Marketplaces in Russia, Vladimir Dolgov, said.

“By adding a locally recognized, immensely popular payment method to eBay in Russia, we are connecting shoppers in more ways than ever before with eBay merchants around the world. QIWI Wallet in Russia is eBay’s first alternate payment option.”

With approximately 70 percent of the Russian population making purchases, both offline and online, in cash this should allow eBay to access a new wave of customers they haven’t previously been able to reach.