How WebMoney Works
Founded in 1998, WebMoney is a Russian electronic payment processor offered by WM Transfer Ltd. The e-wallet service now has over 45 million users worldwide and has become a widespread payment method accepted by merchants and the best online casinos for deposits and withdrawals. Players need to sign up using the WebMoney Keeper app to get started. Before using WebMoney for online casino payments, you need to add funds to your acccount via your bank account or cards. Other key facts about WebMoney can be listed as follows:
- The WebMoney (WM) system is built on standardised interfaces that allow participants to manage their property rights, safeguarded by specialised entities called Guarantors.
- Users can register multiple WM purses with different Guarantors, all managed under a single Keeper linked to their unique WMID registration number.
- WebMoney supports various types of digital purses, including those for cryptocurrencies like Bitcoin, Ethereum, and Litecoin, which allows for secure storage and transactions of tokenised assets. This feature makes WebMoney a versatile payment solution for crypto casinos, providing a seamless and secure way to handle cryptocurrency transactions.
- WebMoney uses WM-Passport, a digital ID containing verified personal data, to establish trust between users for remote transactions, with higher-status passports offering more features and credibility. The system includes an EU Verification Centre to facilitate compliance and enhance trustworthiness.
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