Tilia Pay to Power USD Transactions in Second Life Beginning
To comply with financial regulations, we’re making an important change to how US Dollar transactions are processed in Second Life. Beginning May 26, 2020, when you make a US Dollar payment or add a new payment method in Second Life, your transaction will be handled through Tilia Inc.
What is Tilia Inc. and Tilia Pay?
Tilia Pay is a product of Tilia Inc., a wholly-owned subsidiary of Linden Lab. Tilia Inc. is a licensed money transmitter in all U.S. states and territories that regulate such activity. Tilia was created to provide secure and compliant solutions for powering virtual economies including Second Life.
To learn more about Tilia Pay, visit its new website.
Why are we making this change?
To stay compliant with regulations across a number of U.S. states, we are taking advantage of the additional safeguards built into Tilia Pay, leveraging the enhanced fraud and money laundering safeguards that Tilia Pay provides.
Stored-value accounts (your USD wallet, payouts, balance credits, etc.) are already handled by Tilia and now it will also handle all other USD transactions (including those involving conversion to other national currencies).
What does this change mean for you?
What about L$ transactions inworld?
There is no change to L$ transactions conducted in the Viewer or in the Marketplace. This change only applies to transactions involving USD.
Are there any new fees associated with this change?
No new fees are associated with this change.
How do I learn more about Tilia Inc. and Tilia Pay?
To learn more about Tilia Pay, visit its website.
How do I submit my questions or concerns about this change?
For feedback and questions about Tilia Pay and Second Life, please join the discussion in our Community Forums.
Have a great week from all of us at Zoha Islands and Fruit Islands.