On Friday January 17th, 2025, Linden Lab announced improvements to the financial and billing systems used by Second Life as provided by Tilia, the Lab’s trusted billing partner- see: Enhancing the Financial Experience in Second Life.
On Friday, February 7th, the Lab provided an update on this work: Faster Payouts Are Here! Second Life Completes Migration to Tilia Wallet.
In the interests of clarity and first-hand reading, I’m not going to list everything in here; better than people read the Lab’s own post. However, the following points are worth highlighting:
- All USD balances are now securely managed through Tilia Wallet, providing a centralized and compliant way to handle fiat currency transactions.
- Whilst maintaining all current pay-out connections:
- Pay-out transactions should now process faster through Tilia.
- There will be an introduction of direct bank deposits for the receipt of pay-outs (exact implementation time frame for this still TBA at the time of the update)
- Updates to the Second Life Marketplace, Cashier, and Account dashboards to make managing payments smoother and more intuitive.
- Enhanced Security & Compliance: Tilia is a fully regulated financial institution, ensuring that all transactions are secure, fully tracked, and compliant with global financial regulations.
This upgrade also marks a significant step forward in enhancing the financial and billing experience for all residents, ensuring greater security, reliability, and flexibility. Tilia has managed payments, tax forms, and KYC processes for Second Life for a while now. With this upgrade, they now also handle all fiat currency transactions, including securely holding USD earnings in Tilia wallets and processing credits (pay-outs).
This upgrade also brings both familiar and new pay-out options, including PayPal, Skrill, and the newly added MassPay.
– From the Lab’s blog post
Again, please refer to the official blog post for full details.
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