WEBMONEY transfer, commonly known as WEBMONEY, is an online payment and settlement system established in 1998. According to WEBMONEY, the system has more than 36 million users and more than 100000 stores accept WEBMONEY payments. In terms of the number of users, WEBMONEY is one of the largest electronic payment processors in Russia. It is owned and operated by WM transfer Ltd.

WEBMONEY transfer can be used for point-to-point payments and includes a hosting system. It charges 0.8% of the transaction amount, with a maximum fee of € 50.

WEBMONEY was launched in Russia in November 1998 as a US dollar remittance system because the Russian financial crisis in 1998 led to an increase in Russia's use of US dollars.

The funds of WEBMONEY users are stored in the "wallet", which stores the electronic currency corresponding to the underlying assets, such as currency. [9] In addition to the original dollar wallet for the "WMZ" electronic currency unit, there are also WEBMONEY units for the support currency (WME), Russian Ruble (WMR), Ukrainian grivna exchange rate (WMU), Belarusian ruble (WMB), Vietnamese Dong (WMD) , wmx, WMH, WML, WMG. These WEBMONEY units can be converted to each other on the online switch, the WM exchange platform, or through the WM keeper application. The underlying assets of the WEBMONEY unit are held by a global network of companies acting as guarantors of payment systems. The guarantor accepts deposits in the underlying assets and issues the appropriate WEBMONEY unit, which is then converted into the currency of the country in which it operates.

One of the services of WEBMONEY transfer is indx online exchange, which is an online tool through which derivative securities (called notes) can be traded, which are mortgaged by shares and other assets of listed companies. WEBMONEY transfer also announced the addition of BTC, LTC, ETH, BTG, ripple (XRP), dash (DASH), monero (XmR) linked notes to its indx online exchange. The indx exchange platform does not charge any transaction and service fees.

In June 2013, the Ukrainian government seized computer equipment from Ukrainian guarantors and frozen 60 million uah (US $7.5 million) of the guarantors' Ukrainian accounts, resulting in the freezing of Ukrainian WEBMONEY transactions. Officials from the Ministry of Taxation and customs of Ukraine said there were major irregularities in the operation of the company as guarantor of Ukraine and that the rules governing the operation of the payment system were not agreed with the National Bank of Ukraine. The Ministry described WEBMONEY as an "illegal system" suspected of money laundering and tax evasion, and the central bank said WEBMONEY did not have a license to operate in Ukraine. The WEBMONEY deal resumed in Ukraine next week.

In March 2015, following a court decision, the bank account of the Ukrainian guarantor was released. In the second half of that year, the National Bank of Ukraine and the National Savings Bank of Ukraine WebMoney.UA Cooperation.

In November 2015, WEBMONEY Europe Ltd, headquartered in Cambridge, UK, was licensed by FCA to issue electronic money in the EEA.

In 2015, WEBMONEY launched a crowdfunding platform, WEBMONEY funding, to implement the project on the principle of voluntary donation, participation in group purchase and event planning. One of the specific features of WEBMONEY's fund service is that it can fund all projects not only through credit cards and e-wallets, but also through bitcoin.

WEBMONEY provides Microsoft Windows, Windows Phone, Android, IOS and blackberry with an application called WEBMONEY keeper to use its payment service