WebMoney is an electronic money and online payment system (transactions are conducted through WebMoney Transfer). WM Transfer Ltd, the owner and administrator of WebMoney Transfer Online Payment System, was founded in 1998 and is a legal corporate entity of Belize, Central America. Originally targeted mainly at Russian clients, it is now used worldwide. The company claims to have more than 9 million users.
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Currency
Every account, known as a "purse", is run in Gold-equivalents (WMG), US Dollar-equivalents (WMZ), ruble-equivalents (WMR), euro-equivalents (WME) or hryvnia-equivalents (WMU). Accounts are identified by strings called WM-IDs; account holders can remain completely anonymous towards each other.
Signing up and receiving webmoney (known as "WM units") from other users is free; sending WM units to other accounts incurs a fee of 0.8%. Funds can be deposited into or withdrawn from webmoney accounts by money order, wire transfer, by conversion from other electronic currencies, or by cash transactions at authorized exchange offices; all of these incur various fees. It is also possible to purchase WM cards for $10–$100 in order to fund an account.
Made for CIS
The main address for technical support is given in Moscow; the main proprietor and administrator is located in Belize. Transactions in WMR are underwritten by WMR LLC in Moscow and transactions in WME and WMZ are underwritten by Amstar Holdings Limited in Panama.
Besides CIS and Eastern European countries, WebMoney has offices in such countries as USA, Netherlands, Germany, Spain, Japan, Greece, Israel, France, UAE.
Security
WebMoney transactions do not require a credit card or bank account and are immune against certain scams because they are final and cannot be retracted; this is similar to e-gold and cash and unlike credit card transactions and PayPal.
WebMoney has had its share of security vulnerabilities. Fraudsters have targeted users of WebMoney with a host of Trojans and mal-wares.
External links
- WebMoney official site
- WebMoney in UK
- WebMoney Exchange UK
- Digital Gold Currency Online Magazine
- WebMoney in «Museum of Money»
- Design: visualization of payment card Non all nominals
- Design: visualization of payment WMU card All nominals. Good Quality
- Design: visualization of payment WMB card All nominals. Normal Quality
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