WebMoney is a general online payment pay system. It begins in Russia, but it is widespread all around the world now. The payment system was begun in 1998. The financial disaster in the late 90-s was the cause of the payment system invention. It let dollar money transfers. Next decades the system has developed. Currently, the system gives wide possibilities to its clients. Therefore, it serves as a payment method, a choice for pay-in and pay-outs, and gives a separate range of opinions for businesses. Moreover, the most popular system method is as an e-wallet. Each country that supports the wallet has a bank or economic institution guarantor. Currently, this system signs over 40 million accounts. On top of that, more than 38% of Russian clients who shopped online made this choice to pay for purchases. Also, work is a kind of country globally. Given that, customers can pay for services of Polish, Belgian companies.
WebMoney is a general online payment pay system.
Across the years, WebMoney has revealed a range of sets for both individual and corporate consumers. For example, clients can store their wallets via payment, bank wire, computer when it is possible to pick as a cash method on any website that carries it. The way customers keep and control their wallets is comparable with online banking. They can reach their account to control all their funds. Markets further enjoy a range of opportunities. For instance, companies can check & manage their funds, prepare the workflow, safe transactions, and so on. Dealers can also compensate for the payments to their bank accounts. Although, probably, the chief benefit for the trader is a chargebacks’ absence.
Types of accounts in WebMoney
Creating an account is free and allows new people up to $ 300 per day to transfer funds between different accounts. Users can have different currency accounts as follows in WebMoney:
WMZ – stands for the official U.S. dollar
WME – Euro wallet
WMR – Russian ruble wallet
WMU – Ukrainian wallet
WMB – Belarusian ruble wallet
WMV – Vietnam Dong Wallet (VND)
WMX – abbreviated as Quinn
WMH- Bitcoin Cash Wallet (BCH)
WML- Light Coin Wallet (LTC)
WMG – Gold Wallet
WebMoney has revealed a range of sets for both individual and corporate consumers.
How to work with WebMoney online payment system
You can use Web Money in two ways: through the site or by using a special application called Web Money Keeper and the key code that is provided to the user. After logging in to your wmtransfer.com account, each account will be assigned an I.D. or WMID. As mentioned before, the important features of using WebMoney online payment system are high security, irreversibility of transactions, cheap transactions, and high speed of their execution. After opening an account, the user can make it impossible for others to access their account by creating several different I.P.s.
Currently, WebMoney signs over 40 million accounts.
Types of user accounts (passports) in WebMoney
Depending on the volume of data you provide to the online payment system, your account type (passport) will vary. Any of these accounts has its own features and limitations. The more identity information you provide, the more features this site provides to you. The types of accounts are:
Alias Passport: This passport is for people who have just created an account in the online web hosting payment system. You do not require to provide any identity certificates to use this account, but because this type of passport has not been authenticated for you; as a result, it has certain restrictions, including a maximum limit of $ 300 for Your account balance at any time as well as the transaction limit is only up to $ 100.
Formal Passport: You can become a formal passport holder by submitting your identity documents to WebMoney. With this type of account, you will be able to make 3,000 transactions daily and keep up to $ 10,000 in your wallet. This verification of identity is done by presenting a passport or national card, and it should be noted that since your information has not been verified in this type of account, it will still have a low level of facilities.
Personal Passport: After sending the information to the website, if you go to the notary public or the Russian embassy in person and confirm the payment of at least $ 50, your documents will be removed. By doing so, almost all restrictions will be removed for you.
You can become a formal passport holder by submitting your identity documents to WebMoney.
How to apply for WebMoney?
The user stores using your online market. On the checkout page, the client picks WebMoney as the preferred payment system. Then the client fills in his/her account credentials and approves the payment.
Why should you give a WebMoney?
This payment resolution is already prevalent among the population. Much of online markets or service providers give this payment method. That’s why entering them will be the right move, particularly if you target the Russian store. Moreover, this method is available in Kazakhstan and other countries; for a euro-zone plus added unit of account is bitcoin. According to the statistics we’ve partaken at the very beginning, an enormous number of online customers in Russia favor this payment method. Consequently, offering it will multiply your competing opportunities.
It is an online e-currency pay set that lets you transport money to dealers and other people who hold an account. Manages its transactions within a system of “purses,” which are accounts you are in a special e-currency. You can set up one pouch each for storing U.S. dollars, Russian rubles, gold, and Ukrainian money.
The most popular WebMoney method is as an e-wallet.
- Register by WebMoney
- Start your Internet browser and go to wmtransfer.com, the WebMoney homepage. Tick the “Sign Up Now” key.
- Tick the “Choose” button near either the Keeper “Mini,” “Classic,” or “Light” statement. The Keeper Mini can be controlled from your Internet browser to transport money, has monthly and everyday transaction limits, and is supported for first-time users. The Keeper Classic needs downloading a demand. However, it only supports Windows 2000 and 2003, XP. The Keeper Light has a greater safety level and can be done with a mobile phone.
- Transcribe your own data (e.g., full name) and contact data in the registration form. Tick “Proceed.” Prove your personal details are correct on the following screen and tick”Proceed” to go to the “Email Verification” sheet.
- Verify the email address that you registered in the registration form. Open the “Registration” email and mimic the enrollment code in the email. Go back to the WebMoney “Email Confirmation” mask and put the code in the “Specify the Code” box. Create the mobile-phone confirmation step if you signed up for a “Classic” account that wants enrollment of a cell-phone number. Tick “Proceed.”Transcribe a password for your account in the spaces afforded and tick”OK” to finish the registration.
WebMoney is an online e-currency pay set that lets you transport money to dealers.
- Plan and Fund WebMoney Purse
- Tick the “Create One” link in the “Purses” part of your account.
- Tick the “Currency” drop-down list and select the appropriate purse type for the money you want to transfer. For instance, elect the “WMZ” purse if you want to transport U.S. dollars.
- Tick “Add Funds to the Purse” in the “You Can” part of your account. Tick “Choose the Most Convenient Method to Add Funds” to start a new page and look for choices for funding your WebMoney purse.
- Tick the “Input Methods” choice on the left side of the sheet to the purse-type you set up. For instance, tick “Input Method WMZ” to see funding plans for the “WMZ” purse.
- Select the funding way you want to use and attach funds to your purse. For instance, tick”Bank Wire” or “E-currency Exchange.” Follow the on-screen actions for creating the money orders to your purse. For instance, tick the link to the safe banking site if transporting by bank wire. As a bank wire, you have to give “authorization” for your account, insert the amount you want to transfer, print, symbol, and then fax the peace to the financial team. If doing an online e-currency exchange service, tick the name of a service provider you want to do, sign up at the market website, and purchase a deposit for your purse.
WebMoney manages its transactions within a system of purses.
- Transfer WebMoney
- Express into your WebMoney account. Or start the Keeper Classic utilization on your computer if you confirmed for a Classic account and download the application.
- Tick “Send ” in your online account. In the Keeper Classic form, tick the “Purses” label. Right-click the pocket from which you want to transfer money and choose the “Send W.M.” option. Transcribe the wallet number of the account to which you want to transport. Transcribe the volume you’re sending and an optional description or commentary. Tick “OK” or “Send” to perform the transaction.
WebMoney security to transfer capital or earn money
According to the statistics of the hosting web site, an average of 150,000 transactions are done daily. In 2013, the volume of transactions in web hosting reached over 18 billion dollars.
At the end of 2020, the number of weekly users will reach 300,000 members, and according to Wikipedia, the whole number of active WebMoney users is more than 41 million registered accounts.
So far, no cases of capital loss and account closures have been reported. Using security protocols such as the ENUM program, only you can manage your account.
Note that the web hosting platform has been developed for money transfers. And any claim that you will make a profit if you transfer your web hosting money to a particular individual or company’s account is false.
In this regard, some individuals or companies, by offering web hosting, offer services such as accepting investment from you and offering you profits. Such cases are considered absolutely fraudulent.
At the end of 2020, the number of weekly WebMoney users will reach 300,000 members.
What is a PayPal account?
PayPal was founded in 1998 by Peter Theil and Max Levchin. The original idea was to create an international currency that was beyond the control of governments. PayPal was initially exploited by economic fraudsters and hackers due to a lack of public awareness and was so unpopular with WebMoney that PayPal was banned in several U.S. states for the first few months. However, the convenience and security of PayPal have attracted the attention of buyers and sellers online, and the amount of subscribers is growing day by day. This drew the attention of eBay officials, the largest online auction site in the world, to PayPal. EBay’s use of PayPal as a payment gateway has led to its rapid growth and widespread use. The growth rate was so rapid that in two months, the number of PayPal users increased from 100,000 to one million. In 2002, eBay decided to acquire a majority stake in PayPal. The merger of the two companies enabled eBay to monitor all stages of the sale of goods on this site, and in case of dissatisfaction of either party, it could return the money. This eventually made PayPal one of the most popular online payment services. In 2014, eBay announced plans to make PayPal a public company like WebMoney. This finally happened on January 19, 2015.
PayPal was founded in 1998 by Peter Theil and Max Levchin.
How does PayPal work?
Creating an account on PayPal is easy in the first place. Initially, your PayPal account will be created with just a little personal or corporate information and using an email address. The information you need to enter to create a real account, because although at this stage, there is no review of the information you enter, eventually you will need it. Next, you need to activate your account to use PayPal services. This is done by connecting a bank account or credit card (such as Visa or MasterCard) to your account. After verifying your account, you can use the features of a PayPal account.
The difference between WebMoney and PayPal
Both operate internationally, and both services are in line with online payment facilities. In addition to payment, PayPal and WebMoney have the ability to receive foreign currency remittances and support different currencies. However, using each of these wallets will be a different experience. Some sites do not accept payments for either, and for some, it is better to use one.
WebMoney and Paypal both operate internationally.