WebMoney

[James A. Donald]

On Wed, Apr 20, 2005 at 01:20:46PM +0300, Marcel Popescu wrote:
> > Second, has anyone seen http://www.wmtransfer.com/ ? Ok, it's
> > Russian, so not a lot of trust in there... on the other hand, it
> > DOES mean it's unlikely to bow to US pressure.

On 20 Apr 2005 at 19:23, Pawe  Krawczyk wrote:
> Haven't used it personally yet but in Russia it seems to be equally
> popular as PayPal in the West. This implies that people trust it. The
> only problem is that when you would like to use it from the West you'd
> need to find an exchange and most of them are located in Russia and
> Ukraine.

You can do transfers between webmoney and Pecunix, using http://exchange.net.ua, but it costs you about 3% each way.

http://www.wmtransfer.com/ has you create a secret key, (at least in 
the classic version) which it signs.  This enables you to do money 
transfers and send and receive secret messages concerning those money 
transfers.

Pecunix has a PGP version, which relies on your PGP secret key.

Paypal has notoriously terrible security, which they solve by rather 
arbitrarily confiscating money from accounts that they dim wittedly 
suspect of engaging in fraudulent transactions.

Because webmoney takes security rather seriously, they do not accept 
credit card transactions, which is a major pain.  Nor can you convert 
paypal to or from other internet moneys.

The fact that webmoney takes security so seriously suggests to me 
that they are honest - but, of course, the fact that they are russian 
suggests .....