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Pamela Galli

New Marketplace Payment System?

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To me it seems that LLis after the USD's of marketplace customers, in stead of after their L$. That is what is going to make the marketplace more profitable for them then the 5% commission a merchants pays in L$. And therefore they expand the possibilities to pay with RL money, and might stimulate the use this method as well.

I'm not sure, but to me it seems that customers who don't pay with L$, are billed right away now, from the paypal account or credit card they have attached to their billing info. 

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Pamela Galli wrote:

I don't know what the difference is 
  Aren't Lindens already deducted from our main account?

I read that last night and it made me scratch my head too.

As best as I can decipher LL had two cookie jars.  One for the Market Place and one for everything else. 

Now they are combining everything into one HUGE cookie jar.

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The Paypal button on the shopping cart is an old setup they inherited from SL Exchange. It is probably making headaches with the new currency regulations. So now, they will make L$ purchases go though Lindex the regular way.

 

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Oh if it means getting rid of paypal, good -- people think that price is the equivalent in Lindens, which it is not.

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Well, if they do indeed implement it properly it will still handle PayPal and credit cards to boot.

Proper implementation though would mean adding another option to your billing page: http://secondlife.com/my/account/billing.php where you would have to register your payment method, and then link that payment method to the marketplace. Decoupling that particular choice and turning into payment options in the marketplace defeats the purpose of globalizing it into your profile account options.

If so you would think that there wouldn't be any fall-over if something goes wrong with a single payment source.

It will be interesting to see how non L$ payments are calculated and paid back out to merchants. I'm guessing merchants aren't going to be getting a direct Dollar to Lindex exchange rate though.

Must love those user to user transactions though. If someone buys an SL house with a credit card and the merchant gets paid in L$ ... where is that "user to user" exchange trade again? LL is a proxy for their own L$ trade? Things that make you go "heh".

Possibly one step closer to consumer protection by purchasing with real money though. And possibly having a fully unified reporting system later on.

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I have never like the idea that LL takes the USD, and then pays me with L$.

I don't mind that a customer pays with USD, but in that case I feel the USD's should go to my account and not  L$, that I must sell first to make them USD again.

It is not such a big issue as long as the SL economy keeps running. Merchants can sell their  L$ to shoppers who need L$ to buy merchandise or pay tier. So far the system works.

But you don't know where these steps that encourage the use of other payment methods will lead to... When it becomes more easy to buy virtual goods with USD, the percentage of people that buy L$ will shrink. New comers might not be aware of the price difference or just find it more easy to pay the USD price, then first have to find out how to purchase L$. And once this method of paying works fine, why should one change? People tend to get used to paying methods and stick with it.
It will not happen overnight, but there is a danger that after some time this leads to a situation where the supply of L$ by merchants exceeds the the demand by customers. This will lead to a devaluation of the L$.

I don't want to sound too pessimistic, but after all it's a world that is not growing anymore and is not stable either, it is slowly declining. When one day the end of it comes into sight, it is not us merchants who are going to take these last USD for the products we have made for this world, but Linden Labs. And will we stick with some amounts of worthless L$ that LL is not going to buy back from us.

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Some good points there. Personally I'd rather receive real money too if that's what the customer paid with.

It is kind of a farce with the concept of an "exchange", when the customer pays with real money and never intended on buying L$ and then LL converts it to L$ to pay the merchant.

It also hints at another issue ... is there really a legal right to resell my goods for real money and give me "worthless" tokens in exchange, that I then have to turn around and pay token "fees" to convert those tokens back to real money.

Not sure of the impact that it could have on the float of L$, but there is another impact, which is that if more people use more real money (and you know that LL is going to make a "transaction" profit on each real money sale), does it take yet more spending dollars from a finite spending economy and give it to LL.

Either way, this concept of virtual economy always wants to fall apart if it falls below a certain threshold. Something that would never happen in a simple real money escrow type of setting.

Very interested in seeing what LL "charges" above the merchants set L$ price. If the current PayPal rate is any indicator, the real money price is going to be a good bit above the L$ value.

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To me this sounds like yet another move by LL to try and kill the last struggling remains of inworld commerce.  WTH would you want to discourage people from using Lindens?  No don't make it easier for them to bypass lindens and use real world currencies in the marketplace, instead they should be supporting the linden and encouraging people to use them MORE!!!!

 

Seriously what are these people thinking?

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Just a thought....The blog post says more international payment options would be available.  I wonder if this is a way for them to build reservers in foreign currancy so they can then provide cash outs in foreign currency.

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No clue what that Linden Guy want to say. But that is the Issue... They Post very puzzled and then they leave Room for many Speculations. Why they dont just say what changes exactly.

Possible Scenarios:

1. Marketplace works as it works now and this Blog was just a hit in the Water.


2. Marketplace takes now ALL Times US$ and converts them to L$... in this case bye bye SL.

 

3. They change the Payment Methods to make it more Userfriendly....

........ did i say that ?  HAHAHAHAHA

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I'm curious what's going to happen when it becomes more popular to spend USD on the marketplace, and LL still does nothing about scammers and fraud...

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Yeah, so I read it twice and I still don't really understand WHAT is going to change.... I'm a merchant so is this going to affect my products or anything? o.O 

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And, just to add insult to injury...the info on payment seems to have replaced the 'edit item'

short cut

 for merchants...or is it hiding elsewhere?

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I heard the problem with payments coming through was due to the distrubution buggin out.  So if you had an item with a distribution you basically weren't getting paid til they fix this.


So, I removed distribution for the item that keeps selling.  Sure enough in the middle of the night I got a sale.. and what do ya know I still did not get paid for it even tho it was delivered.


JIRA reports do no good, they just tell me its on my end. And luckily I dont have many transactions to cross check unlike some of you who have countless sales that you have not been paid for.  This sucks.

 

I guess we better call JG Wentworth. "" It's our money and we want it NOW!! ""

 

LL can kiss my pixel a$$ I'm pi$$ed

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