Leading Russian kiosk, e-wallet and prepaid card provider deployed full fraud prevention system in record five weeks

IRIS Analytics and its sales partner Wincor Nixdorf support QIWI, a leading Russian multichannel provider of next generation payment services, with the full fraud prevention system IRIS 5 in its fight against fraud. IRIS 5 is now protecting QIWI’s network of over 100,000 self-service kiosks and 15 million e-wallets.

Sergey Soldatov, General Manager Banking of Wincor-Nixdorf Russia, IRIS Analytics’ sales and support partner in Russia, explains: “IRIS provides unique value to QIWI by combining transaction streams of financial data for all lines of business with non-financial transactions, and does so in real-time”. The strength of this approach was recently illustrated when Russia almost overnight experienced a severe attack by criminals using counterfeit 1000 and 5000 rouble notes. These notes were not optimised to trick the human eye, but to trick the banknote scanner model used in nearly all Russian cash accepting kiosks and ATMs.