WebMoney

The Oldest Payment System

WebMoney appeared in 1998. At that time there were not so many people how knew about electronic money and they used virtual payment systems. In a decade the number of WebMoney users exceeded 4 million. Sale and purchase transactions between the users and web-site owners are mostly engage WebMoney even when the partners are far distant from each other.

What are WebMoney’s advantages? First of all, it is quick. Secondly, WebMoney enables seller and customer to interact directly without any mediators. Thirdly, WebMoney allows full automation of internal business processes in Internet shops and save time.

A rather significant part of WebMoney users includes web-games fans. They need an exchanger where they can buy some standard game money. Traditionally they use WebMoney to that end.

WebMoney in its Broad Concept

WebMoney users call it a payment system for simplifying and better understanding, but WebMoney is the system of title recording. It uses no electronic currency. All settlements and payments in WebMoney use money units. These units are the guarantees of material values and the confirmation that the values belong to a certain person.

WebMoney functional possibilities have already gone beyond Internet payments long ago. This system may be used for immediate money transfers in real time. WebMoney is suitable for settlements in Internet shops and web-sites, for credit and cell-phone payments.

Some think WebMoney is mostly used for micro-payments. Compared with postal and bank transfers WebMoney are far quicker and safer. Besides, the commission does not depend on the amount. The charge is 0.8%.

This ‘virtual money’ has no real guarantee. Every country has its WebMoney representative office. This system of title recording legally exists in every second developed country of the world.