+ Watch QIWI
on My Watchlist
I like this company, so I picked to outperform in the long term, however, and I knew this when I picked it, it seems to be fairly valued right now, so I could easily see it stagnate for some time while growth catches up with valuation.
Payment play in Russia.
Volatility in the short term will reward investors in the long term.
QIWI operates in Russia and the CIS and provides payment services across physical, online and mobile channels. Since Russians are often paid in cash and still rely on cash for bill payments much more than western countries, QIWI sees opportunity for growth by deploying over 11 million virtual wallets, over 169,000 kiosks and terminals to facilitate customers' cash to electronic payment and cash transfers. These kiosks are located through out the shopping districts and neighborhoods. I have been watching this company since its IPO this spring (2013) and bought a few shares to keep me interested. Their story is certainly one of growth, although I have concerns about the reputation for Russian money laundering and graft which places this quasi banking stock squarely in my speculative portfolio. I am also watching potential competitors' entry into the market. I think the Yandex already offers some similar services and I wonder when e-bay/pay pal will enter the fray. In the meantime I am enjoying the run up in the stock price.
Recent IPO with good TTM return numbers, but still worth only about $13.
The payment platform to convert cash to online payment in Russia which is a massively growing market and still 90% cash economy with only a nascent eCommerce market and huge distrust of the banks
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