Meta rebrand Facebook Pay to Meta Pay with the hope to cater for the metaverse

Meta has announced the rebranding of Facebook Pay into Meta Pay as the company repositions itself for the metaverse. For now, the changes are taking place in the US, they will launch in other markets over time. 

According to the company, the current product features and overall user experience that people are used to with Facebook Pay will remain the same across Facebook, Instagram, WhatsApp and Messenger.  

Meta founder and CEO Mark Zuckerberg in a Facebook post said: “In the future, there will be all sorts of digital items you might want to create or buy — digital clothing, art, videos, music, experiences, virtual events and more.,  

“Proof of ownership will be important, especially if you want to take some of these items with you across different services. Ideally, you should be able to sign into any metaverse experience and everything you’ve bought should be right there.” 

Last week Meta launched a digital clothing store where users can buy clothes for their avatars. 

Meta head of fintech Stephane Kasriel said: “Our path forward is grounded in our mission to empower everyone, everywhere to access the world’s financial system to accelerate financial inclusion and economic empowerment.” 

“Designing products and infrastructure with the metaverse in mind today will help facilitate innovation that delivers greater access and real cost savings — before the metaverse even becomes mainstream. Now is the time to lay down the building blocks for the future. Because once that foundation is in place, the potential of the metaverse, and where it can take fintech next, will be limitless,” adds Kasriel. 

Please follow and like us:

Leave a Reply

Your email address will not be published.

Social Share Buttons and Icons powered by Ultimatelysocial