WebMoney Transfer is one of the largest and most popular international online payment systems in Russia and the CIS countries. The owner and concurrently administrator of WebMoney is WM Transfer Ltd, registered in London. At the same time, the main certification center, as well as technical support and software development are located in Russia. WebMoney is not officially registered as an electronic payment system.
The principle of operation of WebMoney is as follows: participants who have registered in the system are provided with the so-called unified interfaces for managing their property rights, which are recorded using "title units" - special receipts. Property rights are kept by the Guarantors (specialized companies).
WebMoney supports several types of wallets, each of which has a twelve-digit number and a prefix indicating the respective Guarantor.
They are classified as follows:
• R-purse WMR - bank check in Russian rubles;
• Z-purse WMZ - a gift certificate in US dollars;
• E-purse WME - bank check in euros;
• U-purse WMU - electronic Ukrainian hryvnia
• B-wallet WMB - electronic Belarusian ruble;
• G-purse WMG - a purse, the accounting unit of which is one gram of pure gold;
• X-wallet WMX - a new type of wallets, the title unit WMX allows the system member to transfer the property rights to the Guarantor to publish records in the bitcoin.org database
Transferring funds in the WebMoney system is only possible between the owners of the same type of wallets. However, title units of mismatched types can be changed in special exchange services. For any transfers of funds, except for transactions between the same type of wallets, the system charges a fee of 0.8%.
For the convenience of working in the system, there is a special client software - WebMoney Keeper. Also, the unconditional advantage of the system is the fact that the participant can create an unlimited number of wallets.