WebMoney Transfer (WM) is the largest electronic payment system in the global network. Unlike other payment systems, it is distinguished by wide withdrawal options, minimal commission fees and a high level of security. In addition, the WebMoney system offers a wide range of currencies, allowing you to carry out calculations in various directions. The payment service is international.

The first transaction using the service was made almost 20 years ago (1998). The owner of the PS is "Transfer" LTD. Engineering services are performed by Computing Forces Joint Stock Company (Russia), and the legal basis for the payment service is the Lithuanian company UAB DEED BALTIC.

 

Status and statistics

WM uses “title units” as payment units, which from the legal side are not tied to gold and currencies of different countries. Title marks cannot be considered as electronic means in accordance with domestic law, as well as international norms. For this reason, WebMoney was denied registration in the Russian Federation as a payment system. Despite this, the statistics of the payment service indicate that more than 30,000,000 accounts have been registered in the system (2015). The total number of money transfers in and out of the system exceeds 160 million per year. In 2015, the volume of transactions exceeded $ 19 billion.

The reputable company Markswebb Rank & Report, which conducts an annual study of financial markets in the field of electronic systems under the name e-Finance User Index, announced that at least one WebMoney wallet is operated by 56.7% of users of the global network (in the CIS) ... At the same time, 34.5% are active users of the system.

 

Title marks

Property rights in the system are confirmed by securities issued by the Guarantor. Title units in the form of electronic media are analogous to physical money. In the WebMoney payment system, money is represented by different types of units of account. To the two symbols (WM), which define membership in the payment system, a third is added, confirming the equivalent.

For example, WMR is analogous to the Russian ruble. The main currency equivalents offered by the electronic service are the dollar, Euro and gold: WMZ, WME, WMG. Additional signs are C and D, which are tied exclusively to the US dollar and are intended for conducting credit and financial transactions. Due to the linking of units of account to the currencies of different countries, the user of the system has the opportunity to maintain the value of his funds. The only criterion that affects their value is currency fluctuations.

 

Commission services

The minimum service cost for transferring funds is 0.01 units, depending on the type of currency used. The standard commission that the sender must pay is 0.8%. The maximum commission that the WebMoney system can charge is limited to $ 50 (50 WMZ). Carrying out lending activities within the system is subject to payment of an additional commission in the amount of 0.1% of the amount of allocated funds.

Commission is not charged for transfers between currency wallets of the same type. In this case, a prerequisite is the use of one WM-identifier or other identifiers that are attached to the passport. Tariffication for the withdrawal of title units through banking networks or other PS is formed not by the WM system, but by the participants in the operations themselves (banks, companies). The exception is the WebMoney card, the commission for withdrawing funds from which is regulated by the payment platform itself.

System identifiers

After registration, which requires confirmation by email and phone, the client is assigned a 12-digit code. The number (WMID) is generated in random order and is the users WM-identifier. For example, 256765985768. The number of WMIDs created by the user is not limited. The client has the ability to create new wallets on each WMID.

The wallet number also consists of 12 digits, in front of which there is a sign that identifies belonging to a particular currency system. For example, E4578198575857 is an E-wallet (analogue of Euro). Each of the WMID numbers, as well as the WebMoney purse, are unique. A user who knows the owners WMID cannot find out the numbers of his wallets. At the same time, it is quite possible to determine the owner of the WMID by the number of any type of wallet: the service is available on the WM certification portal. Clients of the system have the opportunity to open information about themselves on the identification page or hide it, leaving only the WMID number for viewing.

WMID is information that allows you to determine the level of a users business activity. It is freely available and is not a requisite for transferring money. You can transfer WebMoney money only using your wallet number. WMID is also used for communication between users of the system, sending invoices.

 

How do I manage my wallets?

As a tool that allows you to manage your wallets, the user is offered the Keeper program. The electronic system offers four types of client software:

Classic
Light
Mobile
Mini
On all types of software, the account is logged in using a name and password. Clasic is a standard program that needs to be installed on a computer. Light software runs directly in the browser. Connection type - secure. Mobile is aimed at users who work on mobile devices, while Mini is designed for all types of gadgets and PCs.

The choice of software depends on the functions performed by the user. All payments in the WebMoney system are irrevocable. Funds are credited to the wallet instantly, and this is a huge plus for merchants who work in the global network.

It takes tenths of a second to complete the payment. Information about transactions is stored in the history, as well as in the information base of the system. Transfers can only be made between wallets of the same type. For example, WebMoney money Z can be transferred only to the appropriate type of wallet. Transfers between U-wallets, R, E and others are performed in the same way.

 

Business level

All users of electronic PS have a BL (business level), which is formed based on the number of completed transactions, currency exchanges (volumes), duration of service use, negative and positive feedback and other operations. In general, the business layer reflects the users business activity. When carrying out financial transactions, the level of business activity is displayed in the WM Keeper window. It can also be viewed on the attestation page, where information about the participants WMID is presented.

Additional services

In addition to making transfers between wallets of identified participants, the WebMoney payment system allows you to use several dozen services. Almost all services are focused on doing business in the global network. Clients are encouraged to use PS to register in affiliate programs, to receive funds from the sale of services and goods in various ways, from a store to one-time sales. Users can conclude transactions, provide funds within the system for temporary use (crediting) to other participants. At the same time, money can be withdrawn from the system to a bank card or other PS at any time. Obvious advantages to users are provided by the WebMoney card, the withdrawal to which is carried out with minimal commissions.

System attestation

To obtain all of the above benefits, the user must prove his identity, which is ensured by the provision of documents in digital or physical form. After that, the client receives an internal identity called a WM Passport. Such a document has weight exclusively within the framework of the payment organization and provides the participant with a lot of advantages.

Each user can check information about the activity of the passport holder, as well as get acquainted with reviews and claims. In total, there are 12 types of certificates.

An electronic document of the very first level is a pseudonym certificate. Registration in the system does not require confirmation of personal data entered by the user. For withdrawing funds to bank accounts and expanding capabilities, the system uses a Formal Passport, which, despite all the advantages, does not provide the user with complete freedom of action. The certificate is issued on the basis of copies of documents that the participant uploads on the official website. The user can create a WebMoney wallet and transfer money in the form of title units to other members regardless of the passport.

The most popular currently is the Initial Passport, which can be obtained in two ways: by direct contact with a representative or by postal service.

The highest level document is the Registrars Certificate, which as of December 2015 had less than 200 participants.