WebMoney Transfer was formed in 1998 by WM Transfer Ltd. WebMoney opened their first offices in Moscow, Russia, as an operative of the main company. Initially, this payment service was set up to cater to Russian clients who needed a practical solution to transfer money online at the time. And currently, it is among the most reputable payment method in the country.
Even though this payment service was created to serve clients from Eastern Europe, majorly Russia, it currently serves a global clientele with offices in many countries. WebMoney is available in over 90 countries with over 40 million users worldwide.
As the name suggests, WebMoney is primarily an online payment option that serves a variety of financial transactions, including lending money, currency exchange, and online betting. In addition, the company has introduced various products, the key among them being card payments and online e-wallet solutions.
Is WebMoney popular?
As mentioned before, WebMoney serves a global clientele. Even though it is primarily used in European nations, a vast proportion of its users are from Russia and Eurasian countries. As far as client demographics are concerned, WebMoney is particularly popular among the youth, with a sizeable number using it for eSports betting.