Sunday, February 4, 2007

Webmoney, more available to Europeans

I have never used WebMoney, but they seem to be a good option for people that don't want to pay with a credit card . If you've used them, please comment.

I received this email about WebMoney.
"My name is Natalia, I’m PR-manager in Web Money Transfer. We find your lens about Russian mp3 sites (http://www.squidoo.com/russianmp3sites/). You see that more of them accepting WebMoney as payment tool. And now our system became more available to europeans: they can top-up WM account using paysafesard (www.paysafecard.com) or UKash (www.ukash.com) prepaid cards in almost all European countries.
So now one can fast add funds to the WM-purse in euro and buy music without complicated identification and sharing the credit card details."

General details on company from wikipedia:
"WebMoney is an electronic money and online payment system (transactions are conducted through WebMoney Transfer). It was founded in 1998 in Russia, and originally targeted mainly Russian clients, but is now used world-wide. The company claims to have more than 2 million users.
Clients can use the system through downloaded software called "WM Keeper" or through a limited web client called "WM Keeper light". Signing up and receiving webmoney (known as "WM units") from other users is free; sending WM units to other accounts incurs a fee of 0.8%. Funds can be deposited into or withdrawn from webmoney accounts by money order, wire transfer, by conversion from other electronic currencies, or by cash transactions at authorized exchange offices; all of these incur various fees. It is also possible to purchase WM cards for $10-$100 in order to fund an account.
WebMoney transactions are safe because they do not require a credit card or bank account and immune against certain scams because they are final and cannot be retracted; this is similar to e-gold and cash and unlike credit card transactions and PayPal. It is therefore not possible to buy WM units online with a mere credit card or a paypal account.
Every account, known as a "purse", is run in US Dollar-equivalents (WMZ), ruble-equivalents (WMR), euro-equivalents (WME) or hryvnia-equivalents (WMU). Accounts are identified by strings called WM-IDs; account holders can remain completely anonymous towards each other.
WebMoney incorporates an instant messaging system as well as a way to send out bills and to extend credit. It is also possible to protect a payment with a password; the payment is withdrawn from the payer's account and added to the payee's account, but cannot be redeemed unless the password is known. The payer will typically provide the password once the promised goods have been delivered. Some operations require a higher level of user authentication known as a "WM passport" which a user can obtain from authorized parties."