WebMoney E-wallet or simply WebMoney or WM is the leading electronic payment network in the x-USSR countries. WebMoney currently operate over 12 million accounts (4.5 million of which are active), which places them on the third place in the world just after AliPay (China) and PayPal (US) and before Moneybookers (UK). Total turnover in 2009 was $7.2 billion, with an average USD transaction of $100. WebMoney offer their account holders maintain any number of purses in one of 5 currencies: WMZ for equivalents of USDWMR for equivalents of Russian rublesWMU for equivalents of Ukrainian grivnasWME for equivalents of EuroWMG for equivalents of gold.
WebMoney Transfer is an international settlement system and environment for online business activities. WebMoney is much more than just a payment system, because its users have a wide range of opportunities to manage their funds. The system carries out transfers of proprietory rights on valuables. As there are different types of valuables, the system uses an internal currency -WebMoney unit (WM), which measures all the types of property. At present the amount of registered IDs in WebMoney all over the world extends over 26 million.
The company was founded in 1998 with its main office in Moscow, however, the system keeps expanding and nowadays successfully functions all over the world. According to the study by E-Finance User Index, out of 56,6 % of people living in Russian-speaking cuntries 34,3 % use WebMoney wallets.
WebMoney offers services that allow to keep track of funds, attract funding, take loans, resolve disputes and carry out safe transactions. Users of the system can register any number of WM purses (user should create a separate wallet for each currency: USD, EUR, RUB, gold and etc.), each of them are kept safe by specialised companies, Guarantors. For convenience all purses that belong to a single user are kept in a Keeper, personal backoffice, that is assigned to the user`s WMID registration number. Unfortunately, WebMoney does not receive credit cards, but there is a number of other ways to add money to WM account: bank transfers, ATMs, money transfer systems, kiosks and terminals.
Although commissions for WebMoney activities are quiet high, the system takes pride in its exceptional unbreachable security system: the safety of users` money is guaranteed, because the access is only gained through a complicated authentication system.
Apart from being secure, WebMoney transfers are also well-technically aligned, so receiving payment through WebMoney is convenient and reliable. With WebMoney it is merchants` proirity to decide which way to receive payment for their services: either directly to theMerchant`s WebMoney wallet or through a special WM Merchant service, which automatically redirects the buyer to the invoice and can offer money convertation if necessary.
Consequently, if your target group is serious businessmen and well-off people form Russian-speaking countries and you would like to receive payment for your services swiftly and timely, WebMoney is your choice.