WebMoney Transfer Code



The hereby Code is the principle regulatory document for the WebMoney Transfer System.

The Code establishes the configuration and implementation of the WebMoney Transfer System algorithms and sets the main principles guiding the System Members’ interactions.  

The  System’s algorithm software will guarantee the implementation of the Code and it will be mandatory for all System Members to observe them.

*The System Operator, as the owner of the WebMoney Transfer System Transactions Certification Centre software, and the System’s automated services shall develop and introduce the Code to the client’s system.

The arrangement of a technical cooperation between the System Members, establishment of the amount of remuneration for the use of the System and of the security standards will be the exclusive prerogative of the System Operator.

The same requirements shall apply to all System Members.

The System Operator has the right to amend the hereby Code at their discretion and shall undertake to amend the Code upon completion of a referendum held among the Members of the System – the holders of Personal WebMoney Passports.

The System Members shall be notified of the amendments at least 10 days prior to the effective date of the relevant amendments.

Part 1. Principle Provisions


Article 1.1. Definition of the WebMoney Transfer System

The WebMoney Transfer System (hereinafter – the System) – is a combination of an automated software and hardware complex, a Transactions Certification Center, the System’s automated services, the client’s software system modules (WebMoney Keeper), which are autonomously managed by individuals and legal entities (the Members of the System) as well as interrelations and procedures arising between the said structural elements in regards to the issue and accounting of the unified title units, and the scope of proprietary rights in the digital WM format.

Article 1.2. The Structure of the WebMoney Transfer System

Composition and definitions of the structural elements of the WebMoney Transfer System:

WEBMONEY – a universal title unit (WM) in a digital format which expresses the amount (scope) of proprietary rights. The price of which (conditional network value) is established and maintained by the owners.

MEMBER of the WebMoney Transfer SYSTEM – any person (or legal entity) autonomously managing the client’s software system modules, using the automatic hardware and software complex of the Transactions Certification Center, or being a party to a transaction which is carried out using WM. WEBMONEY KEEPER – a program module acquired by a Member of the System free of charge and installed on the Member’s computer which implements a set of algorithms for WEBMONEY transactions and accounting.

Member’s COMPUTER – a computer (computers) on which the System Member    uses WebMoney Keeper to conduct operations in the WebMoney Transfer System.

OPERATOR – the developer, owner, installer, and administrator of the electronic transfer system, who Assures the continuous and sustainable operation of the System. CODE – provisions of the regulatory nature and guidance on application of algorithms, technical and procedural rules, simultaneously governing the Member’s user status and their relationships with the Operator.

MEMBER’S IDENTIFIER – a set of characters which are generated at the time of installation of; WebMoney Keeper on the Member’s Computer. This is a unique name of the Member in the System to which all the WM operations initiated by the Member are linked.

KEY – a digital sequence used in the System’s security algorithms, allowing it to univocally interpret the ability to manage the Member’s Identifier and confirm the affiliation of the Identifier with the key holder. PURSE – an attribute registered under the MEMBER’S IDENTIFIER. Every purse has a prefix denoting the type of title units the purse is intended for.

WM-TRANSACTION – a transaction for a transfer of title units between purses of the same type.

MESSAGE – a text message transferred between the client’s software which is signed by the SENDER’s and RECEIVER’s keys.

INVOICE – a claim for the transfer of a selected type of title units from one MEMBER’S IDENTIFIER to another.

GUARANTOR – an organization who issues, stores and administers the issuing of title units of a certain type, establishes the equivalents for the exchange of the claimed proprietary rights that have been published on the system website and in the WebMoney Keeper software. The guarantor establishes the offer for the purchase and sale of title unites of the guaranteed type, and provides a legally valid introduction of the title unites of a certain type to the economy of the country where the Guarantor is registered, in compliance with the country’s legislation.

THE SYSTEM SERVICES – automated hardware and software complexes which provide additional features to the WebMoney Keeper System Member’s software module. These are developed, installed and maintained by the Operator.

ACCREDITATION – a Member identifier Service that verifies whether the Identifier belongs to a certain individual or a legal entity and assures the appropriateness of the scope of rights to use the Service System through the implementation of an algorithm which requires the submission of identification documents. ARBITRATION – a service for the settlement of disputes between  System Members in accordance with the Code agreements and standards adopted in the System. REGISTRAR – an individual or a legal entity that has contributed to the System’s guarantee fund and carries out the ACCREDITATION of the System Members and represents the Members during Arbitration.

PERSONAL CERTIFICATE – registered in the System as evidence of the successful passing of an individual or a legal entity to the attestation procedure performed by the REGISTRAR.  

Article 1.3. Principle functions of the structural elements of the WebMoney Transfer System

Paragraph 1.3.1. Principle duties of the WebMoney Transfer System Member Any Member of the System shall be granted:

  • the opportunity to register any type of purses offered in the System
  • the opportunity to access any System Services
  • the right to transfer title unites between purses of the same type, including transfers between purses with the same Identifier
  • the automatic crediting of title units which have been transferred by Members of the System
  • the protected exchange of messages with System Members, the storage of the coded messages in the System’s data base archieve that includes any messages delivered within 3 days of the time the member last signed into the System
  • the automatic restoration of a 3-day transfer and message history of the System Member’s data base history. From the time of the last system sign in to no later than 90 days from the calendar date of restoration will be saved on the database
  • the ability to issue and pay invoices billed by System Members
  • the ability to generate a new key and password
  • the ability for the Member to block messages, invoices and title unites received from unauthorized senders
  • the opportunity to receive the latest WebMoney Keeper software releases free of charge
  • the ability to search for a sender using their Identifier or purse number
  • access to all methods of replenishing a purse declared by the Guarantor and methods of exchanging title units guaranteed by the Guarantor
  • the ability to report unscrupulous System Members to the System’s Black-List
  • a possibility to initiate an arbitration claim against a System Members who have received a WM- transaction
Paragraph 1.3.2. Principle duties of the System Operator
  • assurance of the technological and organizational integrity of the System
  • assurance of the continuous operation of the Transactions Certification Center
  • development, installation and assurance of the System’s Services operation
  • development and publication of the WebMoney Keeper software for the System Members
  • assurance of the registration of Guarantors in the System and the arrangement of cooperation between System Members and Guarantors
  • establishment of the procedure for auditing of Guarantors and publication of auditor’s findings; maintenance of the system for the provision of statistical information for Members
  • assurance of compliance with the System security requirements
  • development and provision of System Members with interfaces for self-management in accordance with the hereby Code
  • representation of System interests in the interactions with individuals and legal entities who are non-System Members
  • organization and implementation of technical support for System Members
  • promotion and advertisement of the System in the media
Paragraph 1.3.3 Main functions of the System Guarantors
  • accounting of stored values in the title units of a guaranteed type;exchange of the title units for the declared equivalent
  • forming of the guarantee fundto ensure the exchange of title units for the guaranteed equivalent
  • development of a legal base supporting the use of title units for business transactions in accordance with the legislation of the country where the Guarantor is registered
  • provision of the required reporting documents to the System Members who are conducting transactions with the Guarantor title units
  • provision of data to the System Operator for an audit of the guarantee fund
  • organizing interaction with System Members, providing consulting in relation to the use of the guaranteed title units
  • representation of the System interests in the country of registration on behalf of the Operator
  • publication of statistical data on the transactions made with the issued title units
  • enabling market exchange of Guarantor title units of a guaranteed type for other types of title units that are used in the System
  • providing and updating information by the System Members on the specifics of Guarantor title units on the Guarantor and the System resources, participation in the localization of the System products and services to the national language
  • legal integration of the System services at the country of registration
  • issuing of WM-Passports for the System Members in accordance with the requirements of national legislation for the user identification

Paragraph 1.3.4. Principle duties of the Registrars

To obtain the status of a Registrar any individual or legal entity who is a Member of the System and holds a Personal Certificate can sign an agreement with the Operator on behalf  of the

System during the Member’s accreditation procedure Initiated by a process participant  for the confirmation of affiliation of an Identifier with an individual or a legal entity).

A premium, the amount of which shall be determined by the Operator, shall guarantee the performance of such an agreement. Should the Registrar cease its activities, the premium is to be returned

to the participant subject to the compliance of its activities with the agreement. Should there be any discrepancies identified in the data verified by the Registrar at the time of issue the System

certificates, the participant will be deprived of the status of Registrar and the premium will not be


In addition to accreditation activities a Registrar may participate in arbitrations. Should the Registrar

consent to arbitration activities the Operator enters the details of the Registrar in the Arbitrators list.

The Registrar then can be selected from the list to act as a plaintiff,  as a defendant, or the System can be selected to render a

verdict in the case. In this case the access to the arbitration procedure interface shall be provided by

the Arbitration system robot.

Part 2. Principle concepts of relationships


Relationships between the Members of the WebMoney Transfer System and the Operator or Guarantors shall be governed by the accepted agreements and the present Code. At the time of the registration of client’s software, establishment of a purse or use of the automated Services, each Member shall select a mode of the System utilization by accepting (not accepting) the proposed options.

Article 2.1. Principle concepts of contractual relationships

Paragraph 2.1.1. Principle provisions of the Transfer of Proprietary Rights Agreement

A Transfer of Proprietary Rights Agreement shall be signed by the Operator and ANY Member. It shall be the only document, which has to be consented in order to use the System. The Transfer of Proprietary Rights Agreement shall define the following provisions:

  • Definitions of the principle terms
  • Liabilities of the Operator
  • Liabilities of the Members
  • Acknowledgment by the parties of reliability of the data transfer via the System
  • Acknowledgement by the parties of inadmissibility of use of the System for the purposes prohibited by the international law
  • Acknowledgement by the parties of the right of the Operator to take all necessary steps to protect the interests of the System Members and the System, as a whole
  • Scope of responsibilities and accounting
  • Limitation of liabilities
  • Terms for introduction of amendments, suspension, and termination

Paragraph 2.1.2. Principle concepts of agreements between the System Operator and Guarantors

WebMoney Transfer System is available for use in any jurisdictions and by any types of legal incorporation not contradicting the international law. Availability of the System shall be defined by the presence of a procedure for accession of Guarantors to the System through the establishment of contractual relationships between a Guarantor and the Operator. Such agreements may offer different forms of cooperation, however, they requirement to follow the below listed principle concepts shall be mandatory:

  • A voluntary obligation of the Guarantor to carry out operations for an exchange of title units of a guaranteed type for a selected equivalent in the System
  • A voluntary acknowledgement by the Guarantor of the responsibility to preserve the guarantee fund
  • Justification of the turnover of title units of the guaranteed type in the country registering the Guarantor, based on organizational and legal substantiation
  • A voluntary acknowledgement by the Guarantor of reliability of the data transferred in the System
  • A voluntary acknowledgement by the Guarantor of the Operator’s right to audit the guarantee fund
  • Coordination of the technology for the accounting of the value of stored equivalent in the title units
  • Coordination of the technology for the publication of statistical data
  • Publication of a Guarantee concerning the exchange of the title units for the System Members
  • Publication of a technology, agreement and details of exchange of the title units of the guaranteed type for the System Members

Paragraph 2.1.3. Principle concepts of agreements between Guarantors and the Members of the System

Agreements between Guarantors and a Members of the System shall be signed at the time of the registration by the Member of a new Purse for the title units of the Guarantor at the time of purchase of the Guarantor’s title units (Purse replenishment), at the time of exchange of the Guarantor’s title units for equivalents (output from the System). The procedure for publishing and signing of such Agreements shall be organized by the Operator through the addition of certain procedures to the relevant System algorithms. It is mandatory for such agreements to contain a description of the equivalent of the title units, the obligation of the Guarantor to exchange title units and the terms of exchange.

Paragraph 2.1.4. Principle concepts of the System in relation to the methods applied by the System Members in order to conduct business

All agreements signed by the Operator, Guarantors or Registrars shall contain a clear statement in regards to:

  • the timeframe of a WM-transaction and its finalization; personal responsibilities of the Members arising when carrying out transactions in the System
  • acknowledgement of the Operator’s duty to recognize the Member submitting certain key as the owner of the Identifier
  • an obligation to not use the System for illegal activities and to not conduct actions harmful for the System or third parties.
  • the right of the Operator to maintain a log of the Members’ activities and the right to use this information in cases Members breach the hereby Code, and System agreements; when Members engage in illegal activities or in case when third parties were harmed, by submitting the information to the courts of any jurisdiction in order to protect the interests of the System, its Members, or third parties.
  • Warning that the WebMoney Transfer System is not a party to the transactions between the Members and is not responsible for the violation of the financial, material and any other obligations existing between its Members because, being a hardware and software tool, the System does not control observance of anybody’s interests in the course of implementation of payment transactions and cannot restrict certain types operations, regardless of their purpose
  • Warning about the necessity to abide by the standards of business conduct when using the System, including the statement on the prohibition of use

Paragraph 2.2. Principle concepts of settlements

Paragraph 2.2.1. Structure of settlements

Settlements shall be carried out in the System:

  • between the System Members
  • between the System Members and the Operator
  • between the System Members and the Guarantors of the System
  • between the System Members and the System Services

All settlements carried out in the System shall be made in title units.

Paragraph 2.2.2. Remuneration for the services rendered in the System

Remunerations for the fulfillment of WM-transactions shall be established by the Operator for each type of Purse at the time of signing of an agreement with the Guarantor. The amount of remuneration for the use of the System Services shall be set forth by the Operator at his discretion.

Paragraph 2.3. Principle concepts of organizational and technological relationships

Any relationships in the System shall be established and implemented exclusively based on the WM-procedures, providing identification of the parties. Any actions in the System shall be conducted only by the Members, who have completed the registration procedure, including System and Operator Services.

Paragraph 2.3.1. Registration of Members in the System

To use the System, a Member shall register its Identifier on the transactions certification server. After that, the Member gains access to the registration of purses of all types offered in the System as well as the System Services. The identification data, which the Member reports at the time of registration may, at the Member’s consent, become available for a review by the other Members. The list of data required for registration of the Member’s Identifier, shall be set by the Operator, and the data required for the registration of purses – by the Guarantors. The Member shall be responsible for the information entered during the registration.

Paragraph 2.3.2. Registration of the Guarantor in the System

Registration of a Guarantor in the System shall be implemented upon signing of an agreement with the Operator pursuant to Paragraph 2.1.3.

To sign an Agreement with the Operator, an individual or a legal entity shall file an application with the Operator. The Operator shall collect and publish data for the System Members to elaborate an unbiased assessment of appropriateness of introduction to the System of new title units of the declared type. A decision to sign an agreement between the new Guarantor and Operator shall be approved by the General Voting of those System Members, who, at the time of publication of the data for voting, hold Certificates with the status “Personal” or above and have non-zero balances of title units in their purses. The decision of the Operator to sign an agreement with the Guarantor shall be deemed approved if more than half of all participants have voted in favor of the decision. The voting shall be deemed valid if no less than 10% of all those System Members, who, at the time when the voting was announced, held Certificates with the status “Personal” and had non-zero balances in their purses, have taken part in the voting.

Upon signing of the agreement, the Operator shall arrange for the accounting of the title units in the purses of the relevant type; inform all the System Members of the registration of the Guarantor; publish on the servers of the System all the necessary instructions, agreements and details, including the WM-Identifier of the Guarantor.

Part 3. Implementation and processing of transactions


Article 3.1. Definitions of technological terms and procedures

Authorization – a procedure for granting of an authorization to receive messages, invoices and title units from a correspondent.

TCC – Transactions Certification Center of the WebMoney Transfer System.

Transaction amount – the volume of title units transferred during a WM-transaction.

Purse type – a prefix in front of the purse’s number denoting that title units correspond to a particular Guarantor of the System.

Invoice – a request of a WM-transaction from the Member, which shall contain a number, an amount and the transaction purpose.

Message – any information transferred between the Members, authenticity and integrity of which is verified by the TCC.

Paragraph 3.2. Transaction types

Transactions performed by a Member shall be certified and recorded by the System in the WebMoneyKeeper Member log. The data recorded to the log shall be available to the Member for a review and use. The data from the System’s log shall be used at the request of the Member in order to recover the Member’s log in case of its damage or loss.

Paragraph 3.2.1. Transfer of title units

Transfer of title units can be performed only between the purses of the same type and between the mutually authorized Members.

Shall there be a need to transfer title units to a purse of an irrelevant type, the Member is to exchange the title units for the required type. An exchange shall be carried out through the Services offered by the Operator or services of other Members.

The System offers two types of transactions:

  • Regular transaction – an unconditional WM-transaction, initiated by a sender and received by the receiver, containing the amount of the transaction and payment purpose.
  • Protected transaction (two-phase transaction) – a WM-transaction, initiated by a sender, containing the amount, the payment purpose as well as a condition for crediting of the amount to the Receiver’s purse upon input of a code of protection at the specified time. Shall the condition for the transaction protection be not fulfilled, the transaction is not completed.

Paragraph 3.2.2. Billing and payment of invoices

A transfer of title units may be initiated by the Recipient. In this case the Recipient forwards a transfer request (an invoice) to the Sender. The invoice shall contain all the necessary details for the transfer: the Recipient’s details, the amount of payment, its purpose, payment term and transaction type (regular or protected). By accepting the request, the Member performs an automatic transfer of title units. If the Member does not accept the request, a notice of refusal is generated for the invoice Sender.

Paragraph 3.2.3 Message exchange

The Members can exchange messages when using the System. The maximum size of transmitted messages shall be established by the Operator. All messages sent in the System shall be signed with the Sender’s, Receiver’s keys and the keys of the TCC and may serve as evidence in settling of disputes by Arbitrators.

Paragraph 3.3. Assurance of the System security

Paragraph 3.3.1. Principle concepts of the security assurance

Each Member shall abide by the security procedures established in the System and shall bear responsibilities for damages and losses of the Member’s data. The Operator shall, at the time of the Member’s registration as well as in case of change of the data exchange protocols or technological algorithms, arrange for and conduct control of the Member’s compliance with the security procedures and standards.

A Member shall inform the Operator of any cases or attempts of fraudulent activities connected to the System’s operations. Based on the information received, the Operator shall develop recommendations on the security assurance, which shall be published and distributed to the Members in a form of service messages from time to time; the Operator shall also develop and adjust the general strategy for the assurance of a secure System.

Paragraph 3.3.2. Security assurance duties of the Operator

The Operator shall carry out the following System security assurance duties:

  • develops a security assurance strategy, communicates it to the Members and implements it in the System algorithms
  • assures integrity, authenticity and confidentiality of the Members’ information at all stages of its processing and transfer by the Members
  • conducts Member security certification and controls compliance of all Members with the safety standards
  • encrypts messages that are exchanged with the Members
  • assures the use of an analogue of a handwritten signature in all Member transactions
  • warns the Members of threats to the Members’ security and offers measures for the prevention of such threats
  • assures protection of the TCC and the access channels to the TCC
  • assures backup of all System data
  • arranges timely notification of the Members and interested entities about any cases of violation of the System’s security policy or facts of illegal use of the System tools.

Paragraph 3.3.3. Responsibilities of the Members for illegal use of the System tools

Members bear full responsibility for unauthorized or improper use of his Identifier.

Upon detection of the facts of use of the System tools for illegal purposes by a Member, the Operator shall immediately suspend services provided to that Member in the System and shall take all the necessary actions to protect the interests of the System and its Members .

Part 4. System Services


For the convenience of the System Members, the Operator shall develop and maintain software and hardware complexes (Services) that are available for use to all the Members of the System.

Services may be included in the WebMoney Keeper software as additional functions, or may be made available for use on the System’s servers.

Services shall be developed by the Operator on its own or at the initiative of the Members.

Third party developments using System Services may also be included in the list of Services at the Operator’s discretion.

Amount of remuneration and payment terms for the use of Services shall be set forth by the Operator.

The Operator shall inform all the System Members of the introduction of a new Service or a change of the complex of the existing Service and shall publish their descriptions and terms of use.

Part 5. The Governing Bodies of the WebMoney Transfer System


Article 5.1. Principles of the System management organization

To assure sustainable operation of the System, it was decided to split the duties of its governance between the Operator, Guarantors and Registrars.

The System, as a single technological environment, is developed, maintained and further advanced by the Operator. The Operator voluntarily assumed the obligations to implement the hereby Code. The Operator shall not be a party to any transactions carried out between the System Members. The Operator cannot act as a Guarantor of the title units. The Operator’s remuneration shall be paid in a form of a fee for WM-transactions and the use of the System Services exclusively in title units.

All proprietary rights to the assets, securing title units of different types, belong to the System Guarantors.

Any disputes between the System Members shall be settled in Arbitrage, consisting of three arbitrators, chosen from among the System Registrars – representatives of the plaintiff, the defendant and the Operator. The result of a settlement of a dispute in the Arbitrage may be either an amicable settlement between the plaintiff and the defendant, or termination of service delivered to the guilty party in the System.

A referendum may be held to take a decision on amendment of the hereby Code at the initiative of the System Members.

Article 5.2. Procedure for holding of referendums in the System

Referendums in the System shall be held at the initiative of the System Members if at least 10% of the Members, holding Personal Certificates approved it.

Only the System Members, who, at the time of announcement of the referendum, hold Certificates with the status of “Personal” or above and have non-zero balances of the title units in their purses, shall participate in the referendum.

To conduct a referendum, the Operator shall send to all participants of the referendum a special form for voting, containing the issue put up for voting, an explanation of the decision-making procedure and a link to a specially organized forum for communication between the Members – participants of the referendum.

The participants shall have 10 days from the date of the dispatch of the voting forms for submission of their votes.

A decision to amend the Code shall be deemed approved if no more than 10% of the referendum participants voted AGAINST the decision.

Upon conclusion of the referendum, the Operator, within thirty days, shall make any necessary amendment to the information and System algorithms.