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In this article, we will introduce WebMoney's online payment system and why it is a convenient alternative to bank transactions.

13

Jun, 19

What is WebMoney?

     From the growing popularity of the internet, came to life the market of digital currency.  It allows people to shop online without having to pay via a direct bank transaction.  One of the most popular online payment systems is WebMoney, as it is very efficient for servicing non-bank internet customers.

     WebMoney is an online payment system and comprehensive tool for online business activities. It was originally established in 1998 in Russia as a money transfer system for US dollars. Since then, nearly 40 million people from all around the globe have joined the system. It offers digital currency purses which represent popular national currencies. The payment platform includes a P2P credit purse, global payment solutions, merchant services, local payment products, online billing, and direct integration with other global financial service providers.

     With WebMoney Transfer, users can send & receive payments worldwide and store money online. To do so, the user must set up a purse to accept payments and hold the digital currency. The system supports having multiple purses which are secured by various resources and tangibles. Here are some examples of more widely used, successful purses:

  • WMR – Equivalent to Russian Rubles (RUR)
  • WMZ – Equivalent to US Dollars (USD)
  • WME – Equivalent to Euros (EUR)
  • WMU – Equivalent to Ukrainian Hryvnias (UAH)
  • WMB – Equivalent to Belarussian Rubles (BYN)
  • WMY – Equivalent to Uzbek Sum (UZS)

     MonoVM has been very determined in providing you as many convenient and secure payment gateways as possible, thus offering WebMoney as very convenient yet secure &reputable payment method.