Perfect Money is electronic payment system for clearing operations in the Internet or, in other words, electronic money. Perfect Money is a service which allows users to make payments and financial operations in the Internet and opens exclusive opportunities for the Internet users and owners of Internet business.

Historical background

Electronic payment system Perfect Money opened in 2008, belongs to Perfect Money Finance Corp. registered in Panama. Perfect Money Finance Corp. has A-class financial license on execution of operations with third parties funds and precious metals.

Country. Legal space

Registered in Panama, virtual office in Zurich

Currency

- Us Dollar - U1234567

- Euro - E1234567

- Gold - G1234567

All currencies can be exchanged in user account by the current rate.

System peculiarities. Intended purpose

There are three types of accounts in Perfect Money system: USD, EUR and Gold which are supported by the US Dollars, Euro and gold. Also the system gives users a status. There are three types of statuses:

Normal - the status is given all system users and does not have any restrictions for use;

Premium - the status is given in a year after the registration or after achieving the certain turnover of funds in account. User may send a request for status changing.

Partner - the status is given by Perfect Money in its sole discretion. The status is given for optimization of B2B payments execution by the companies having business in the Internet.

Money cover

Registration in the system

Registration in the payment system Perfect Money is rather simple. During the registration it is obligatory to designate Name, City, Country, Postal code, E-mail. Then choose the type of account: Personal for private individuals or Business for commercial organizations and create the password for account. After filling the form and sending it, ID number assigned as account number for transactions inside the system is sent to the e-mail.

Cryptography and security

Multi-level security system. Every user has an opportunity to adjust security settings at the necessary level.

Developers of the payment system did not forget about the security and create several useful instruments:

1. User IP authentification - if user changes IP address and enters the account, PM sends an e-mail with PIN code for confirmation of IP address. If at the same moment user changes IP address to those one from which he/she opened an account, PIN code will be unnecessary even if it has been already sent.

2. SMS authorization - this system is used with the purpose of creation logical connection between user account and his/her mobile phone number which will be used for personal identification of account owner. SMS authorization is perfect and secure mean of protection user from unauthorized access to the account, because the time spent for operation of code exchange and entering it to an appropriate field is crucially short and insufficient for crack.

3. Code card - applying of this instrument is based on providing user with the card with graphical displaying of code which is sent to e-mail. For transaction confirmation the system sends user a request about issue a code from this card in random order. Code card - convenient and secure additional mean of transactions protection which proved itself as a good security system in majority of world's large financial systems.

Deposit and withdrawal of funds

In Perfect Money payment system deposit and withdrawal is possible by three methods:

• Bank transfer, request is considered by operator during 24 hours. Minimal amount is 1000 USD;

• Exchangers, partners of the payment system;

• Other electronic payment systems.

Fees. System commissions

Fees for system use:

1. Main commissions

• Annual service - 0%;

• Internal transfers - 0.5% debited from sender's account;

2. Profit

• Monthly charging of 7% interest rate on remaining funds in account.

3. Deposit 0,5%

• Bank transfer - 0%;

• E-payment system Pecunix - 6%;

• Deposit using SMS - 2%.

4. Withdrawal

• Bank Wire 0.00% $50.00 + 1.5% (max $1000);

• Pecunix 1.5%;

• Union Pay 0.00%.

• Pre-paid card Visa - under construction.

5. Fees for use of security instruments

• Informing by SMS - 0.10%;

• Account recovery - $100.

6. Partnership program

• Monthly charge of 1% annual minimal remaining balance of attracted user of Perfect Money system.

Depositing funds via Pecunix 6% fee is charged.

Advantages and disadvantages

Advantages

1. Easy registration.

2. Low commissions.

3. Security. Multi-level protection.

4. Annual interest rate.

Disadvantages

1. No desktop program.

2. No operations with Webmoney.