Sep 13 2007 : Singapore-based First Meta has launched a virtual credit card that can be used to pay for purchases in 3D online world Second Life. Founded in February 2007, First Meta describes itself as a “financial services provider for virtual worlds.” It says its MetaCard is the first virtual world credit card.
According to Asia Media, over 100 virtual merchants on Second Life accept the MetaCard. Cardholders pay for their purchases in Second Life’s virtual currency, the Linden dollar.
Currently, one Linden dollar is worth around US$250. Finextra says cardholders can earn reward points by using their MetaCard for purchases. Customers can also use the card to get a "cash advance" from First Meta ATMs in Second Life. In Second Life, virtual transactions amounting to over US $1 million are made daily, Asia Media says.
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