Webmoney

Webmoney is an electronic cash (internet payment) system where monetary transactions are made through WM (WebMoney) Transfer. WM Transfer Ltd is the owner and administrator of WebMoney Transfer Online Payment System which was  established in 1998.

Webmoney offers a quick and mostly anonymous payment service however their registration process does ask for email verification and customers are encouraged to give further verification through an SMS message. This ensures the process is safe to use for all so we welcome the additional verification checks.WebMoney verification has the advantage of being able to use their arbitration service; your own private key file retrieval if you are in the unfortunate position of having lost control of your account (credit activities, access to internet services, online exchanges, and info resources that requires personal client ID).

Security

To begin using WebMoney, you must install a Client Interface programme on your computer, PDA or mobile, register and accept the Terms and Conditions and receive a WMID (exclusive identification number).  You will need this to verify your account and it’s advisable that every user applies for and gets a WebMoney Passport.

The System supports several types of e-currencies, secured by various resources. Each e-currency has a dedicated electronic wallet, called a Purse.

You can protect your payment with a password; which will mean that the payment cannot be withdrawn from the payer account or added to the payee’s personal account without knowing the password. The payer can pay the money and then provide the password and release the funds once the promised goods or services have been delivered. This can be very useful in actiing as a built in Escrow service.

For a fee, there are several methods to deposit and withdraw funds: wire transfer, money order, conversion via electronic currencies, or authorized cash transactions.