WebMoney is a Russian system for e-payments that makes it possible to transfer electronic money online. It also allows you to exchange WebMoney e-currencies and do business with most Russian companies that accept online payments as a payment option.

       A WMID is your account in the WebMoney system, or your WebMoney Identifier. It is your personal number in the system which consists of 12 digits. When you create an account in WebMoney, you can have a number of WM e-purses for different e-currencies:

WMZ – U.S. Dollars,
WMR – Russian Rubles,
WME – Euros,
WMU – Ukraine Hryvnias,
WMY – Uzbekistani Soms,
WMB – Belorussian Rubles,
WMG – WebMoney Gold (1 gram).

       Each WebMoney e-purse starts with a currency identifier, such as Z, R, E, etc., and also consists of 12 digits, for example, Z123456789000. Statistically, most Russian companies and individuals that receive payments in WebMoney work with WMZ, each unit of which is equal to a U.S. Dollar.

       WebMoney is actually the largest Russian online-funds company and the most widely used online payment option in Russia. Luckily for WebMoney, PayPal does not allow Russian PayPal accounts to receive money (they can only send funds to PayPal accounts of other countries). Therefore, Russian people cannot use PayPal to receive e-payments. Moreover, Russian Credit Card system is not as advanced as it is in European countries and the U.S. Therefore, don’t be surprised that your partners in Russia prefer to use WebMoney instead of PayPal, Credit Cards and other systems to transfer electronic funds.