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| Webmoney - Welcome to the World of Webmoney |
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| WebMoney Transfer Online Payment System is an electronic money and payment system, with which monetary transactions are made through WebMoney Transfer. |
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| WebMoney Introduction |
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WebMoney Transfer Online Payment System is an electronic money and Internet payment system, which means that monetary transactions are made through WebMoney Transfer.
The WebMoney Transfer Online Payment is owned by System WM Transfer Ltd, which was founded in ’98. System WM Transfer Ltd is a legal corporate entity of Belize, which is situated in Central America. Webmoney was first used by mostly Russian clients, but is now used internationally. The company says that they have more than four and a half million users. Webmoney software Clients can use it via the full version download software, "WM Keeper," or through the limited software client, "WM Keeper light".
WebMoney utilizes an instant messaging (IM) system as a way to extend credit and to send bills. You can protect your payment with a password; which will mean that the payment cannot be withdrawn from the payer account or added to the payee's personal account without knowing the password.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. Some clients prefer a higher level of user authentication, which is called a "WM passport," which a client can get from the authorized party. |
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| Signing up and Receiving Webmoney |
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To sign up and be able to receive Webmoney (or ‘WM units’) from others is free; however, sending Webmoney units to other users costs a 0.8% fee. There are many methods available to deposit and withdraw funds from your Webmoney account. You can use wire transfer, money order, conversion via electronic currencies, or authorized cash transactions; all of which has various fees. You can also choose to purchase WM cards for ten to hundred dollars in order to fund an account.
WebMoney has offices in various international countries such as CIS, Eastern European countries, Netherlands, USA, France, Japan, Greece, Israel, Germany, Spain, and UAE. Amstar Holdings Ltd in Panama underwrites transactions in WME and WMZ and WMR LLC in Moscow underwrites transactions in WMR. |
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| Webmoney and Security |
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WebMoney transactions are safe because it doesn’t require bank accounts or credit cards. Webmoney also cancels out certain scams because the transactions are final and can’t be retracted. You can therefore not buy WM units with only a paypal account or credit card.
Like most online transaction websites, WebMoney has had its share of security breaches and vulnerabilities. Fraudsters and hackers have targeted WebMoney users with various Trojans and mal-ware programmes.
To become a WebMoney member, you must install a Client Interface programme on your computer, PDA or mobile, register with them, accept their Terms and Conditions and receive a WMID. A WMID is your exclusive identification number, which you will use your identifier and account number when using the Webmoney System. You will need to verify your account and it’s advisable that every user applies for and gets a WebMoney Passport. |
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