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Knowledge base: WebMoney
About WebMoney
Posted by Olga Palikarpava on 04 March 2015 02:27 PM

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WebMoney Transfer, a universal electronic payment system (WebMoney) has been in existence since 1998. It ensures online transfers among registered participants who have a unique user identifier (WMID).

Accounting units of the system are called WM-units. They are title signs equivalent to variable currencies kept in the purses of corresponding types: WMZ — US Dollars-equivalents (Z-type purse), WME — Euro-equivalents (E-type purse) etc. When transferring funds, purses of the same type may only be used. The exchange of title signs of different types is performed through exchange services.

The technology offered by WebMoney is based on a set of standardized interfaces, which system participants can use for managing their valuables property rights, kept safe by specialised companies known as Guarantors. System users can register any number of WM purses with any Guarantor. All purses belong to a single user are conveniently kept in a Keeper which is assigned to the user`s WMID registration number.
WebMoney supplies the following free instruments for operation with the system and for making payments: Keeper Standard (Mini)Keeper WebPro, Keeper WinPro, Keeper Mobile and Keeper for social networks. Purse Management.

To interact internally, all system participants are required to provide personal information verified by the Certification service.

Learn more about WebMoney fees.

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