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Mobile Payments

Russia: Megafon stops its mobile payment platform

Tuesday 8 March 2016 | 10:08 AM CET

Russian mobile operator Megafon has shut down its mobile payment platform ‘Megafon Money.’

According to ewdn.com, this service will be replaced by Visa Qiwi Wallet which is the electronic wallet offered by payment operator Qiwi in partnership with Visa.

In early 2015, Megafon subscribers got the possibility to connect their mobile account with the Qiwi wallet, thus making the service redundant. Additionally, the payment platform attracted only 100,000 subscribers.

To put things into perspective, the ‘Megaton Money’ service was launched in 2012, when Megafon’s competitors Beeline (VimpelCom) and MTS were developing their own payment platforms Ruru and Legkiy Platezh.

In June 2015, VimpelCom also launched a mobile payment wallet in partnership with Visa Qiwi Wallet, but does not consider it to be redundant in comparison with ‘Ruru.’

Ewdn.com (quoting Vedomosti) reports that neither MTS nor VimpelCom intend to shut down their mobile platforms.

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