Merchants
FAQ
Accepting MetaCard™ payments
Is it expensive to accept the MetaCard™?
Not at all. There is no installation fee, no monthly fee and no minimum charges.
You only pay 2.5% of each MetaCard™ transaction. See the
product summary for details.
We make money only when you do.
How does it work?
When you sign up for the MetaCard™, you will receive a merchant package with a
script that allows your customers to pay with their MetaCard™ in addition to the
usual "cash" payment function. When a purchase is made, the revenue (minus the
transaction fee) is immediately credited to your MetaSavings™ account and available for
withdrawal at any of our ATMs.
How do I use the MetaCard™ ATM and where will it be?
ATMs will be located on the First Meta SIM, at Partner Merchants' malls/sims/stores as
well as relevant popular locations for your convenience.
Members will receive a package containing a placement holder which looks like a First Meta
ATM. Members can rezz the placement holder on the location that they want the actual ATM
to be placed and click on it to request for an ATM. Non-members who wish to have an ATM at
their location can IM Minky Mousehold or email to customerconcierge@firstmeta.com.
What fees will I incur by accepting the MetaCard™?
There is only a small transaction fee of 2.5% of each transaction that is made using the MetaCard™.
Settlement will be done immediately after each transaction.
Am I exposed to frauds and defaults from MetaCard™ holders?
As a MetaCard™ Merchant, you are insulated from any fraud and default from
MetaCard™ holders. When a MetaCard™ purchase is made at your store,
you receive the payment from us immediately, while we receive payment from the card
holder later. Whether or not we eventually receive the payment from the card holder
will have no impact on your business.
What security measures are in place to prevent MetaCard™ holders from frauding or defaulting on payments?
All MetaCard™ Merchants are entirely insulated from fraud or defaults from card holders.
First Meta takes heavy precautions to prevent, reduce and manage the risk of fraud and defaults. There are two types of cards: secured and unsecured. The MetaCard™ Gold and Corporate are secured against a real-life credit card, which means we are able to charge the real-life credit card in the event of a default.
At the same time, we limit the exposure on the unsecured cards to a very small percentage of our total exposure such that even extremely high rates of defaults will not impact the company significantly.
We have also designed the entire system such that it is practically and economically infeasible for large scale frauds to take place.
Is the MetaCard™ system able to integrate with gift cards and other vending systems?
The current version of the MetaCard™ system is able to integrate with JEVN and Larry Laffer's scripts.
I own a business with partners. Will I be able to set up a system to split revenue among us?
Yes, the MetaCard™ system also supports a gift feature as well. For further clarification, do not hesitate to contact Minky Mousehold or email to customerconcierge@firstmeta.com.
For now, you can obtain complete sales transaction records by logging into your First Meta account at our website to make easily profit-sharing arrangements with your partner(s).
Is there a contract term? Will I incur any fees if I want to terminate my Merchant Account?
There is no minimum contract term and no termination fees. You are free to terminate your account at any time.
How else can my business benefit from accepting the MetaCard™?
As a MetaCard™ Partner Merchant, you automatically get approved for our MetaCard™ Corporate credit card and MetaSavings™ Corporate deposit account.
Use your new credit line to grow your business and enjoy the privileges of being a MetaCard™ Corporate holder.
How can I start accepting the MetaCard™?
Just sign up here or IM Joy Laperriere. Application is fast, easy and approved within 3 business days.
I have more questions about accepting the MetaCard™. Can someone help me?
Sure! You can email us at support@firstmeta.com or IM Joy Laperriere in Second Life.
MetaCard™ Corporate
Where can I find information about the MetaCard™ Corporate?
Information about the MetaCard™ Corporate is available at Summary & Rates and Terms & Conditions.
Will I be able to share my MetaCard™ Corporate or give a supplementary card to my business partner in Second Life®?
You will not be able to share your MetaCard™ and we currently do not provide supplementary cards. We will provide supplementary cards in the future.
We can however issue multiple cards per business. If you wish to have a MetaCard™ Corporate for your business partner too, please submit a request to customerconcierge@firstmeta.com.
Can I still accept MetaCard™ payments if I do not want a MetaCard™ Corporate?
Yes you can, the MetaCard™ Corporate is entirely optional. During the registration process, you can indicate whether you want to sign up for your MetaCard™ Corporate or not.
Can I have a MetaCard™ Gold in addition to my MetaCard™ Corporate to separate my personal and business expenditures?
We are currently unable to support that but we will allow individual avatars to own multiple MetaCards™ in the future.
A point to note is that the MetaCard™ Corporate has a higher credit limit compared to the consumer cards namely, MetaCard™ Basic and MetaCard™ Gold.
Can I increase my credit limit?
You can send a request to increase your credit limit to support@firstmeta.com. Your request will be reviewed within 3 business days. In the near future, you will be able to request for a credit limit increase by logging in to your First Meta account on our website.
Can I downgrade my MetaCard™ Corporate to a MetaCard™ Gold?
Yes you may do so. However, because the MetaCard™ Corporate has a higher credit limit than the MetaCard™ Gold, you have to reduce your outstanding balance on the MetaCard™ Corporate to under the credit limit on the MetaCard™ Gold.
For merchants who don’t yet have the MetaCard™ Corporate and would like to sign up for the MetaCard™ Gold instead, please contact Joy Laperriere via IM or email at joy@firstmeta.com.
I have more questions about accepting the MetaCard™ Corporate. Can someone help me?
Yes, you can email us at customerconcierge@firstmeta.com or IM Minky Mousehold in Second Life.
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