WebMoney is an international online payment settlement system. It originated in Russia but is now widespread all over the world. The payment system was launched in 1998. The financial crisis of the late 90's led to the creation of a payment system. It allows transfer of dollar bills.
After several decades, the system has evolved. Today, the system offers its clients wide opportunities. So, it serves as a payment method, an option for incoming and outgoing payments, and provides a variety of separate features for businesses. In addition, the most popular use of WebMoney is as an electronic wallet. Every country that supports the wallet has a bank guarantor or financial institution.
Currently, WebMoney number more than 40 million accounts. In addition, more than 38% of Russian customers who shop online, use this option to pay for purchases.
Additionally, currently WebMoney jobs are spread across various countries globally. With conditions, the client can pay for the services of Spanish, Polish, Belgian companies.
Over the years, WebMoney has developed a variety of services for individual and corporate clients. For example, customers can deposit their wallets via cash, bank transfer, terminals, etc. It is then possible to choose WebMoney as the payment method on any website that supports it. The way customers maintain and control their wallets is comparable to online banking. They can access their account to manage all their funds.
Businesses also enjoy various opportunities. For example, companies can control & manage their funds, plan workflows, secure transactions, and so on. Merchants can also complete payments to their bank accounts. But, perhaps, the main advantage for traders is that there are no chargebacks.
How do I use WebMoney?
Save users using your online store. On the payment page, the customer selects WebMoney as the preferred payment method. Then the customer fills in his account credentials and confirms the payment.
Why should you offer WebMoney?
This payment solution is already popular with the population. Many online shops or service providers offer this payment method. That's why joining them would be a great move especially if you are targeting the Russian market.
In addition, this system is available in Kazakhstan, Belarus and other countries; for the eurozone plus another unit of account is litecoin.
According to the statistics we shared earlier, a large number of online buyers in Russia prefer this payment method. So, offering it will double your competitive odds.