Page 42 - Pay Magazine s2014

pay awards
m-wAllet of the yeAr
The in-market mobile wallet that provides end users with value-added features and/or enhances payment capabilities, user decision-making or loyalty.
QIWI Wallet
QIWI Group, Visa Inc.
what it is: Visa payWave technology has been integrated into the digital wallet that dominates Russian e-commerce to extend it to in-store purchases.
why it works: Android-based mobile wallet appeals to consumers who are cautious about shopping online, whose debit cards have been blocked for online spending, or who are too young to qualify for conventional debit or credit cards. The extensive load and accep- tance network, breadth of consumer payment services—bill payments, remittances, redemp- tion code distribution, e-invoicing and loan repayment facilities—and comprehensive online and in-person support create an innovative nancial management tool for
a diverse demographic.
why it matters: With more than 16 million active QIWI digital wallet users, adding mobile and in-store payments will help to grow annual payment volume that exceeded US$11.5 billion in 2014.
differentiators: Dedicated kiosks in super- markets and rail stations facilitate functions like top-ups, bill pay and funds transfer. Sources of funds include cash, credit/debit cards, bank account transfers and mobile prepaid accounts. The technology behind the app touts an advanced security system that uses e ective algorithms to verify transactions and protect against fraud.
what the judges said: Massive e-wallet audi- ence and Russian contactless penetration will push this mobile wallet into the mainstream with the potential to become the preferred payment method in all channels.
Dominant Russian e-wallet goes mobile with updated app and Visa payWave integration.
40
wInners
TIM Multibank Caixa
Caixa Economica Federal, MasterCard Worldwide
True-Pay with Mobile
True Corporation Public Company, MasterCard Asia Paci c
payments technology