Linden Currency On 3rd Party

I have a website and want to offer my members an easy fast way to subscribe to recurring subscriptions but with Linden currency. Is that possible? Interested members pay into it then my SL account is credited?

Or does it have to go through same process such as Paypal? If I need Paypal for it to work anyn resources or how to's to get started?

it is possible, but I am not sure how it is done. It was kinda explained to me, but I was completely lost on the explanation.

I do appreciate the person explaining it though, just sorry I was too dense to grasp it.

(contact the creators of xstreetsl, they obviously know how it is done.)

Okay thanks, still researching..

here's the short version.

1. joe wants to buy something on your website.

2. joe approaches an inworld terminal, and pays the terminal 100L$. this money "really" goes to the terminal owner (dave).

3. the inworld terminal notes how much money joe paid, and sends a message to your webserver.

4. The webserver has a script, which records what the terminal said, and notes "joe has 100L".

5. joe then goes to the website, and spends his money, buying something from ann.

6. The website then says "joe now has no money, but ann has 100L"

7. ann goes to the inworld terminal and says "gimme my money", and the terminal checks the webserver, finds out that ann has 100L on account, and takes 100L from the terminal owner (dave), and pays ann.

8. then the terminal tells the webserver to deduct 100L from ann's website account, leaving her with 0L on account.

that's BASICALLY how the system works. You can add all sorts of security and encryption and authentication of course.. stuff you'd never want to reveal. The trick that makes systems like apez and xstreet profitable, is to charge fees. charge joe 100L, but only pay ann 98L. that way dave makes 2L on the deal. Over the course of several thousand transactions a day, that can add up.

Hi Gusher,

I actually think you need to use Paypal for "recurring" payments.

For example, Contacts Online is subscription based but not with recurring payments. Subscribers just make additional payments inworld to extend their subscription.

http://www.zonkster.com/contactsonline.htm

joe could "pay up" a balance using an inworld terminal.. and then you could deduct monthly from his "account".. (similar to the system described above)... then when joe runs low, you can send him a reminder, and when his balance reaches "too low to cover another month" you can cancel his account and refund him the difference.

This is how most of the inworld "rental" systems work. You don't pay every month, you pay however much you want into an account balance, and it gets deducted from that balance every month.

The real trick is to set up an alt to hold the money. That way you don't spend/cash-out more money than you should.. and it allows the customers to simply cancel their subscriptions/rentals just by withdrawing their balance, and zeroing out their account.

Interesting replies....seems that majority really prefer paying inworld but think the paypal approach may be the answer. Many Paypal subscription softwares already exist so it may be best approach as it already works with SecondLife.