WebMoney or WebMoney Transfer is a popular electronic payment system that is not a banking one. Has over 10 million registered members.
For most, electronic payment systems are a world where they can easily cheat, but such organizations themselves are incomprehensible. It's better to transfer money in the old fashioned way by bank transfer or through a savings bank.
Meanwhile, the growing popularity of electronic money all over the world suggests that the consumer is really getting his hands on a reliable and convenient tool. In this article, we will consider the main myths about the system that scare users.
Webmoney transfers information to third parties. This is possible only at the official request of law enforcement agencies.
Transfer in the Webmoney system is too expensive. Just the opposite! The transaction rate is fixed 0.8% of the amount, but cannot be less than 0.01WMZ and be more than 50 WMZ. Compare with the Western Union rate, which goes up to 25%!
Transfer to Webmoney is too long. The translation itself is carried out in a split second. If there was a delay in receiving money, then maybe this is due to the quality of communication lines?
In case of fraud, there is nowhere to turn to. In addition to technical support, there is also Arbitration, which deals with issues related to fraud. If the facts stated in the complaint are confirmed, the system takes a number of measures - from blocking the account to closing the site to which the complaint was received. There is also a black list in which users themselves leave complaints about unscrupulous partners.
Webmoney money is kept in the bank, if it bursts due to the crisis, then all user savings will be lost. The system works differently from financial institutions. The agreement that the user signs contains the obligation of the Guarantor to redeem the title units from the user, regardless of financial troubles. In fact, users do not work with money, but with signs.
The work of technical support is not controlled in any way. In fact, all conversations are recorded, so you can file a complaint with the time of the conversation. By the way, technical support works around the clock.
The Webmoney payment system is simply illegal. This myth arose as a fusion of most of the wrong statements, which will be discussed below. When an ordinary person hears about electronic money, wallets and transfers, he immediately asks the question - how legal is it? Today Webmoney's activities fully comply with the laws of any country. Many say that the law does not explicitly say anything about electronic money, and therefore such systems are illegal. This is a misconception. The fact that there is no corresponding provision simply forces the payment system to adapt to what exists, for example, to the Civil Code. It should be noted that Webmoney has never called itself a payment system, and its units - electronic currency. This is said by people who simplify the essence, adjust it to their own standards. In fact, Webmoney is a system of property rights that takes them into account using title units. To make it easier to understand, you can associate such a system with tokens from a locker. Tokens can be exchanged for other tokens, gifted, and so on. But the luggage room already bears the obligations for such title signs, the tokens themselves do not replace currency, but simply take into account who owes whom and what. So the accusations of illegality are groundless, so it shouldn't come as a surprise if Chinese yuan or other currencies wallets appear.
It is rare for an accountant to unravel the legal knot associated with Webmoney. It is believed that in order to ensure legality, Webmoney has twisted around itself complex rules and legal nuances. Yes, not for every accountant, electronic checks are commonplace. But you can't stand still, in Europe tax returns have long been submitted on the Internet. So it is worth asking the accountant to figure out how to reflect WM transactions in your reporting, especially since there are clear recommendations on this matter from the system itself. A normal accountant himself will easily master all such subtleties, realizing that this is necessary for his professional growth. Today, there are many businesses that trade over the Internet, and quite officially accept Webmoney. We can mention the online auction "Molotok.ru", CJSC "Infosvyaz", in Ukraine these are the largest online stores Rozetka, Matrix. And this list can be continued for a long time. As you can see, it is quite possible to conduct business using electronic currencies.
Webmoney is prohibited in Belarus. Again, it is worth mentioning that the system cannot be banned, as it does not contradict the laws. In reality, several exchange offices were closed in Belarus. I must say that such points are independent business projects that are not legally connected with Webmoney. How to conduct their business, pay taxes - they decide for themselves. And the fact that exchangers somehow violate the laws of their country does not mean violations of the payment system itself. If the exchanger works with cash dollars, although the law establishes the licensing of such activities, then these are the problems of the point itself. In Belarus itself, a large number of exchangers continue to work successfully, which simply comply with the laws.
It is very difficult to deal with Webmoney. The existence of this myth discourages many people from using the system, although this statement is incorrect. Webmoney is indeed a sophisticated tool whose capabilities go far beyond the limits of online payments alone. But the beauty is that an ordinary user does not need to understand all the nuances of Webmoney. To work directly with payments, you just need to install the client - Keeper and spend an hour to get acquainted with its basic features. If you need more from the system, you can study certification, credit opportunities, security nuances, etc. If you accept WM on your site, you will have to dig even deeper by examining the Merchant service, automation, and so on. Much deeper are the opportunities for developers, publishers, writers. When buying household appliances, we first study the basic functions, sometimes without reaching complex bells and whistles. In the work of the system, you can indeed face difficulties, but they are due to either ensuring the legality or the security of the system. In any case, the Webmoney support service will help you solve any problem that arose while working with the system.
Webmoney has security problems. We often hear about poor system security, as passwords of its users are stolen. So maybe the whole problem is on the user side? The system is protected only to the extent that each of its participants makes an effort. If you leave the apartment door open, is it any wonder that valuables will disappear? In fact, Webmoney is the most secure internet payment system. The user is offered a choice of several protection tools, only he can decide whether to use them or not. But often people do not complicate their lives with activations and locks, but then they complain about the weak security of the system, believing that it is Webmoney that should think for them in this environment. We will not list all the possibilities, for this the Safety Encyclopedia has been created. The basis of any computer security is the vigilance of the user himself, more often the leak comes from him than from electronic systems.
Webmoney will soon cease to exist. This myth lives on from the very beginning of the operation of this payment system. Webmoney is also blamed for the lack of a banking license (which is needed, since there are no banking operations at all), the closure of investment funds (which, by the way, violate the requirements of Webmoney, being in fact fraudulent). There are no signs of an imminent closure of Webmoney, the company is growing, the number of transactions and turnovers are growing. Today Webmoney begins active promotion to Western markets, finding new partners and guarantors. Not answered immediately by Arbitration or Support? This does not mean that the system is in agony, it is just worth waiting a little, since a large number of cases are pending simultaneously.
Webmoney is widely used by scammers. Where there is a circulation of money, people will certainly appear who will try to cash in on it. The popularity of mail gave rise to spam, credit cards appeared - and carders appeared. But this does not mean that the system is designed for intruders. Initially, dishonest people try to take advantage of the system, it is enough to recall the MLM pyramids in Russia, although in the USA this scheme works successfully, bringing people a stable income. Webmoney itself is actively fighting those who try to use the system to commit illegal actions. For this, the following features have been introduced:
- the work of arbitration and the existence of a black-list;
- the requirement to provide passport data from some clients;
- control over large or suspicious transactions;
- control over "investment" funds;
- signing by all participants of the "Agreement on Combating Illegal Trade".
The introduction of such measures is aimed at ensuring the safety of an ordinary user.
Webmoney is exclusively for small payments. Many do not believe that this system can be used to pay for air tickets, buy equipment, since this myth exists. In fact, you can pay with Webmoney wherever this system works. Mentioning micropayments, we can say that it is especially convenient to work with Webmoney in this area, since the commission for the transfer is not fixed, but depends solely on the amount. You can look at the statistics and see how the size of the average transaction grew. If in 2001 it was 31 WMZ, in 2002 - 53, in 2003 - 56, now this amount has already exceeded 110, which, you see, can hardly be called micropayments.
Webmoney is located offshore, its traces cannot be found. The developer of almost all Webmoney services in Russia is CJSC Computational Forces. It is not scary that a foreign company WM Transfer Ltd, registered in Belize, Central America, is declared the owner of the system. After all, the management in this way takes intellectual property outside of Russia, where it will be easier to protect its rights if necessary. The guarantors are located where they should be - each in his own country. There is a Russian guarantor in Moscow, a Ukrainian one in Kiev, and so on. All addresses and phone numbers are available on the Webmoney website.