WebMoney Transfer commonly known as WebMoney is a global settlement system and environment for online business activities, established in 1998. The system claims to have more than 29 million users. Although WMT Originally targeted mainly at clients in Russia and the Former Soviet Union, it is now used worldwide.
WebMoney Transfer Technology is based on providing all its users with interfaces that allow operating and controlling individual property rights for valuables (assets), stored at the specialized entities — the Guarantors.
Here is a list of brokers who accept Webmoney as a way of payment. Webmoney is very popular in Russia and it is a web based payment method. It makes depositing and withdrawing money from your trading account very quick and easy.
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WebMoney Forex Brokers: The Security Features
WebMoney Forex brokers are brokers who trade Forex with payment system through WebMoney. Basically, the WebMoney works like a settlement system with a focus on money transfer system. When traders want to use the account to do Forex trade, they need to open an account on the so-called WebMoney purses with a certain assigned WMID registration number.
Facts about WebMoney
This system may not be as easy as other systems as the operation is a bit tricky and complicated. It uses WM passport, which is a digital identification document. Getting the WM passport alone isn’t easy as the traders of the binary options should provide their signature sample and also personal data. As if it weren’t enough, they still have to go through a verification process to make sure that the person is real. There are different types of WM passport. The higher they are, the more secured and protected they are – not to mention that they also have many additional features.
How the System Works
Forex brokers like this system so much because of the security measurement as well as the verification process to make sure that the users are solid and real. If you are interested in becoming the Forex broker, you need to integrate a certain API code to the payment page, which will strengthen the WebMoney security and integration. When such integration works, payment acceptance can be done through Web Merchant Interface – which is also integrated with other services like WebMoney Processing and Capitaller.
The system also allows users to create a button that will be used to start the payment. in case you aren’t really familiar with the whole deal, feel free to use the available setup wizard. This interface is definitely handy because payment processing is made easier. When you want to pay, simply use the interface to ‘transfer’ you to the official website – where payment confirmation and authorization are done. Once it is done, you will be taken back to the website and you should get the payment notification.