Who among you knows WebMoney ? I though it was a new company but it was established in 1998
it's very simple and its fees are very low (0.8%) and the service is excellent, I mainly use it to pay on Aliexpress and Alibaba.
first you open an Account and then you open wallets, each wallet has a different currency (Dollar/Euro etc..) you simply share your wallet number with your customer and your customers sends the money to your wallet.
Apparently it is widely used in Russia.
once the Credit in your wallet reaches 75$ then you can withdraw the money to your bank account.
Does WebMoney provide any payment protection? Besides $BABA, has anybody used it here to pay friends and family? The 75 threshold is a bit funny, but I guess if you don’t need the money right away it should work. Thanks for the idea.
In Russia webmoney have securities license. If you enter this system and purchase WMZ it is same as youve bought shares of some company. So if youve sold more that youve bought you have to be ready to pay profit tax (13% for residents and 20% for non-residents).
It is not protected with anything, no disputes or resolution center.
I have widely used it in 2008 but would never recommend use webmoney in 2018.