As part of the deal, Alibaba will accept electronic payments routed via Qiwi for products offered through its web-based shops.
Qiwi works with more than 3500 merchants which include mobile operators, internet and TV providers, housing and utilities, public institutions, I-shops, e-wallets, online games, airlines and railway companies, insurance, MLM and banks. QIWI also provides money transfers, virtual Visa cards and gift cards, press subscription, lotteries, transport tickets, microfinance.
In recent news, Alibaba has revealed plans to repurchase up to one-half of Yahoos stake or approximately 20 percent of Alibabas fully-diluted shares.
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