The Second Life virtual residents can now enjoy cashless shopping with the new MetaCard, a virtual L$ credit card. Buy stuff and pay for it later in L$, the official Second life currency. Its usage is very similar to credit cards offered by Mastercard, Visa, American Express etc.
With the Metacard, when you buy products, there is no need to pay L$ cash, instead charge your purchases to the MetaCard and buy the item immediately. At end of each billing cycle, you’ll receive a statement about payment pending and the minimum payment required. Interest accrues only on rolled-over balances.
Now increase your spending ability, participate in the MetaRewards program to earn reward points for shopping with your credit card, get instant L$ cash and grow your L$ Earn interest on your free MetaSavings deposit account. Here is complete list of merchants where the credit card is accepted.
Types of Metacard credit cards
Standard card has a credit limit of L$ 5,000 per month. Gold card has a credit limit of L$ 10,000 per month. For issue of Gold card, the customer is required to provide a real-life credit or debit card number. Applications for the MetaCard Gold are automatically approved and applications for the MetaCard Basic take about 3 business days.
Remember there is a L$500 Minimum purchase amount for waiver of monthly fee (which is L$ 300 if purchases do not exceed minimum purchase amount.) There are many other clauses and charges, which are detailed in the terms and conditions. Metacard is a product of First Meta, a venture-backed start-up based in Singapore.
Now that is a great deal for Second life resisdent and will start a new era in the virtual world economy. Found via Techcrunch.