Virtual credit card launched in Second Life

Virtual credit card launched in Second Life

A Singaporean firm has launched a virtual credit card that can be used to pay for purchases in 3D online universe Second Life.

The MetaCard is being launched by Singapore-based First Meta, which bills itself as a "financial services provider for virtual worlds". The company describes MetaCard as the "first virtual world credit card".

The new card works in the same was as a regular credit card - customers are provided with a credit limit and use the card when purchasing goods in Linden dollars at participating merchants.

In order to pay using the virtual card, Second Life citizens need to right click on the item being purchased and then 'MetaCard'.

First Meta says cardholders can also earn reward points by using the virtual card for purchases. Customers can also use the card to get a "cash advance" from First Meta ATMs in Second Life.

Second Lifers will receive statements at the end of each billing cycle showing the minimum payment required. The monthly fee for a card is L$300. Card balances and fees can be paid at First Meta's in-world ATMs.

While First Meta deals exclusively with the online universe, a number of real-world financial services firms have set up virtual branches and offices in Second Life. Germany's Wirecard Bank, Danish online investment bank Saxo, Dutch banking groups ING and ABN Amro have all launched cyber operations in the universe.

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