Inside The Webmoney Purse

Understanding that Webmoney began operations in 1998, a decade ago, the sophisticated concepts used in the creation and administration of these electronic purses is nothing short of brilliant. Through good times and bad it´s clear that this system should be in operation for decades to come. They are structured to not only survive but to also thrive in the ever changing digital landscape As examples...

The administrator for the Russian Ruble - WMR purse is domiciled in Russia and the unit is structured as an electronic check.

The company handling the administration of the Euro - WME purse is domiciled in Panama and it is a digital certificate.

The WMG gold purse, is handled through a Dubai company the purse unit is a gram of gold.

Each ´package´ was structured and is administered for maximum protection of the clients and the operating company.

As a general rule, any user is allowed an unlimited number of WM purses. The only exception are the types C and D purses. The C & D purses are for credit operations. They contain a personal credit transaction history on the Webmoney system and consequently only one of each purse can be issued per person. Not all users will transact with the C & D purses, in fact most users may not use either one. The operation of these purses could be viewed as Webmoney´s version of a Zopa or Prosper.com and these products are very innovative.

While the Webmoney software functions almost exactly the same for all purses, the financial operation of each purse is administered by a very different set of rules. Often purses are in different jurisdictions and even guaranteed by different entities. It appears that several purses are domiciled in various jurisdictions for the ease of administration over the electronic financial transactions.

Each ´digital unit´ which measures value within a purse has a different financial structure. One purse may have digital units based on an electronic check and another purse´s units may be legally binding digital certificates or even a debt obligation. Webmoney found a need for that online payment product, then to fill that niche market, developed a dynamic and secure solution The jurisdictions for each purse offer a prized venue for user account protection and transaction efficiency. In other words, as a global organization, Webmoney Transfer has selected beneficial jurisdictions in which to house their financial products. Consequently, their various online financial products deliver safety and performance to many global markets.

All arrangements and operating agreements which detail the multiple electronic purse transactions are disclosed in separate public agreements available for anyone´s viewing. (Russian language only)

WMZ and WME Purses

Amstar Holdings Limited, S.A.

The Charmen Building, Greece Villa, ground floor,

City of Panama, the Republic of Panama

The WMZ purse is denominated in US dollars. The WME purse works on the Euro. Both WMZ and WME purses are administered by a Panama Corporation and the electronic transfer of WMZ and WME units is based on digital certificates. One unit, equals one dollar(WMZ) or one Euro(WME). The guarantee behind assets held on behalf of WM customers for both the USDollar(Z) and the Euro(E) purses is administered by the Panama Corporation. All electronic commerce and transfers taking place with both WMZ and WME purses within the Webmoney Transfer system, are based on a defined "set of rules for the use of WMZ and WME -certificates." You can find a public copy of those rules on the WM Wiki. (Russian Language only) Fees or Commissions on executed transfers of WMZ are 0.8% the sum of the transfer with a maximum commission of WMZ 50.00 Maximum fees or commission of an executed transfer is WME 50.00

WMR Purse

WMR Ltd. is the company representing WebMoney Transfer in the Russian Federation.

119049, Russia

Moscow, ul. Cow´s shaft, d. 7

Director-General - Charcot Vladimir Nikolayevich.

The WMR purse contains funds denominated in the Russian Rubles. One unit equals of one Ruble. Based on the local Russian jurisdiction, all electronic transactions and transfers for WMR purses are outlined in an agreement for the use of checks in electronic form. The guarantee behind assets held on behalf of WM customers for the R purse is administered by a Russian Organization. The Webmoney Wiki has an agreement posted on the regulation of these transactions.

WMG Purse

METDEAL FZE

P.O.Box 181894

Dubai, United Arab Emirates

The WMG purse units are based on grams of pure gold. Transactions are calculated to the nearest hundredth of a gram (0.01 wmg) Account balances are denominated by weight, not national currency. The document for this purse which defines transactions is termed "Agreement of storage". The gold is held in allocated storage and never really changes hands, just a electronic book entry in the Webmoney Transfer system shows ownership. When more digital units are needed, more gold bullion will to be deposited. Owners of WMG can demand delivery of their gold holdings in a large quantity only and it is the responsibility of this guarantor to arrange delivery to this account holder. Terms apply. Maximum commission of system with transfer WMG - 2.00 (grams)

WMU Purse

Ukrainian Guarantee Agency LLC.

01014, Ukraїna, Kiїv-0yya, A/s 60

The WMU purse contains funds denominated by Ukrainian Kopecks. One unit is equal to 10 Ukrainian Kopecks. Electronic transactions in a WMU purse occur based on a complicated set of credit regulations authorized by: "Ukrainian guarantee agency", YEGRPOU 32610513, R/s 260013354 V OF JOINT STOCK COMPANY "Ukrainian professional bank", g.Kiyev, MFO 300205. The transactions are structured by Ukrainian Law. The electronic units transfer value based on a credit obligation from one user to another.

"THE "GUARANTEE", from one side, and any person, who accepted (accepted) present proposal, named further - "CREDITOR", from other side, further SIDES, concluded the present agreement of concession and calculation of the rights of requirement..."

Each electronic transaction occurs as as separate collateral agreement outside their main agreement as listed on their public web site, which roughly translated into English is named "Agreement of the concession of the rights of requirement and their calculation" and can be found on their web site. http://ukrgarant.com/ Maximum commission is WMU - 250.00 on any transfer in the Webmoney system.

WMY Purse

Uzbek Guarantee Agency TILLO-GARANT LLC.

Republic of Uzbekistan, 700060, Tashkent, ul. Glinka, 35 Glavpochtampt, ab.yashchik № 4297

Director-General - imines B.A

The WMY purse contains units denominated in Uzbek Som (or Sum), (currently UZS432.2=USD $1). Based on the Uzbekistan jurisdictional regulations all WMY electronic units are "ensured by the rights of the possession of securities (bonds) to the bearer". Again, each unit is a complicated system of rights of possession for a bond, yet the units trade very efficiently just as all other WM purses in the Webmoney Transfer system. The owners rights and the regulations surrounding all WMY transactions are based on Uzbekistan law. The maximum fee on a transaction is UZS50,000.

WMB Purse

Technobank JSC

220002, republic Belarus´

Minsk, ul. Kropotkina, 44

The WMB purse works on units denominated in the equivalent of Belorussian rubles. The guarantee behind the units comes from a company in the Republic of Belarus. The guarantee agreement frames the units as "electronic money" for an electronic purse.

A WMC purse is a Webmoney Credit purse. It is is the equivalent of a WMZ but for only credit operations. It is only intended for obtaining credit. Credit within the Webmoney system means a user can acquire goods and service opting to pay the other party at a later date. The amount and period of the credit is fixed within the WM system and also stays in the history of operation for both credit and debit building a sort of credit history or rating. All items located in the WMC purse are considered obligations or bills awaiting pay off.

A WMD purse is also a Webmoney Credit purse representing the obligations or bills, "...before the creditor from the users of the systems, which took credit. The total WMD in ones purse corresponds to the sum total of WMZ, which must be transferred to owner WMD purse." Both purses WMC and WMD contain credit items.

Verification Service provides digital passports, that identify WM users, holders of WMID´s in the System as per their personal identification data and contact information provided. Digital WM-passports are issued to users, who supplied identification data, notarized or verified by one of the Registration Officers to one of the Authorised Verification Centers. WM Verification Program offers several status levels. The higher status of the WM-Passport is, the more effective is user´s activity in the System and the more services of the Sytem are available to him.

For example, holders of Personal Passports obtain a right to issue Initial Passports at a fee, they believe is fair. A passport of the Registration Officer allows to issue Personal Passports to other WM users.

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