Comparing the current results to its competitors, Qiwi Plc reported Revenue decrease in the 4 quarter 2023 year on year by -86.01 %, despite the revenue increase by the most of its competitors of 34.59 %, recorded in the same quarter.
Qiwi Plc's Comment on Competition and Industry Peers
The company operates in a highly competitive financial services industry alongside larger competitors with greater financial and operational resources. These competitors include retail banks, non-traditional payment service providers, electronic payment system operators, and other firms offering banking and payment solutions such as electronic payments, payment processing services, and lending. Competitors differentiate themselves through factors such as speed, convenience, and network size. The company recently sold its Russian operations to its former CEO, Andrey Protopopov, and is now focused on business activities outside of Russia.
Mercadolibre Inc's business model revolves around operating an e-commerce platform that connects buyers and sellers in various Latin American countries. The company also provides an online marketplace for individuals and businesses to sell new and used products. Additionally, Mercadolibre offers e-commerce solutions, such as payment processing, shipping, and advertising, to enhance the overall user experience and facilitate transactions on its platform.
Pagseguro Digital Ltd is a Brazilian company that operates as an online payment platform. The company provides financial technology services, allowing individuals and businesses to make online transactions. Their business model is based on earning revenue through transaction fees and charging for additional services such as installment payments and digital wallets.
PayPal Holdings Inc operates as a payments platform that enables individuals and businesses to send and receive money online. The company primarily generates revenue by charging transaction fees for facilitating these online payments. Alongside its core payment services, PayPal also offers additional products and solutions, such as digital wallets and payment processing services, to meet the evolving needs of its customers.
Sources:
Qiwi Plc’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
Updated on:
Focus of this report: publicly traded companies.
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