Facebook Pay will switch to Meta Pay to make way for the metaverse
Facebook Pay will soon switch to Meta Pay and more options will be added (Image: File)

It’s been a little over half a year since then Facebookas an array, renamed to dead. Since then, the company has united, which is why on this occasion The name of the payment system known as Facebook Pay will be changed to Meta Pay.

According to a blog from Stephen Kesrel Head of Commerce and Financial Technology at Meta, the company is working on Grow target focusing on metaversoSo they invest in it Optimizing Payment Experiences Already in existence since 2009.

Businesses and individuals from 160 countries and 55 different currencies use Meta platforms to make payments, including person-to-person, business-to-business, business-to-person, and consumer-to-consumer transactions.

“The experience people are seeing today is Facebook Pay, but we will soon bring it closer to the Meta brand by rebranding it to Meta Pay,” Kasriel said.

Facebook Pay will change Meta Pay (Image: REUTERS/Dado Ruvic/Illustration/File Photo)
Facebook Pay will change Meta Pay (Image: REUTERS/Dado Ruvic/Illustration/File Photo)

He emphasized that Meta is focused on improving payments and being more fun for those who use Facebook Pay and they have shown that ‘Good Accreditation’ in the countries they are currently inHowever, the ambition is to continue Expansion into new areas.

He noted that they are carrying in the United States New Payment Features to Messenger, including the pay command, the ability to split payments, birthday gifts of cash, and QR codes to send or request money.

In the case of Brazil, they were investing in partnerships with local financial institutions for those who historically did not have access to digital payments.

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He noted that they create ways for users to ask questions about specific products, make purchases, receive order confirmations, and track numbers and real-time delivery status updates. All of this will be from Messenger, so they don’t have to migrate to secondary apps or other Meta platforms.

Facebook Pay photo (Photo: File)
Facebook Pay photo (Photo: File)

“We are looking to further simplify the payments experience on our platforms now, so that individuals and businesses can access the benefits of interoperability in the metaverse.”

Will be unique wallet “For people to represent who they are, what they own and how they pay.” The project is still in the early stages of exploring what a single wallet experience will look like, so more information will be released at a later time.

They initially break the idea down into at least five different themes, based on: “How do you prove who you are and Carrying that identity in various experiences in the metaverse; How do you store it The digital goods you own and take with you where ever you go; and how can Pay easily and with the payment method that you want, either from a friend or by purchasing from a company or content creator.”

Small figurines displayed in front of the Meta logo (Photo: REUTERS/Dado Ruvic/Illustration)
Small figurines displayed in front of the Meta logo (Photo: REUTERS/Dado Ruvic/Illustration)

He stressed that this is an important opportunity for Attract more people to your financial system. He pointed out that there are currently about 1.7 billion people around the world who do not have access to basic financial services.

He explained that this is partly due to some They do not have identification documents To open accounts in financial institutions, so giving them the opportunity to access the online payment system without too many complications allows them to They have basic financial services to support themselves and others and even start a business.

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Finally, in your project that is included with Meta Payment Helping businesses and creators better serve their customers and fans by ensuring that “metaverse has the potential to open up more business opportunities.”

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