Meta Pay will replace Facebook Pay on the social network

A new article by Stephane Kasriel, head of “fintech” at Meta, indicates that Facebook Pay is moving to the Meta brand. Soon to be called Meta Pay – the service is working to improve the online payment experience to compete with Apple Pay, Google Pay and Samsung Pay to name a few.

Facebook Pay is over

Besides the classic experience, Meta is also exploring how to make it easier to process payments within the metaverse. Mr Kasriel said the company is in the “very early stages” of creating a single wallet for users. It could explore how you transport your identity in the metaverse, storing digital goods, and how you can easily pay with any method you want.

Available on Facebook, Messenger, Instagram and WhatsApp since 2019, the future Meta-payment is used by people and businesses in 160 countries for payments, split charges, cash gifts and to request money in 55 currencies.

metapay facebook

The company sees Meta-payment as an opportunity “to bring more people into the financial system”. With a billion people in the world who have no form of identity, Meta seeks to solve this problem; in doing so, it could enable more users to support themselves or even start their own businesses. It is also and above all the way to monetize this user base.

Meta-payment will also seek to help businesses and creators better serve their audiences. Meta Pay can expand the scope of trading possibilities via metaverses. The company said there will be several announcements to look forward to in this area throughout the year.

Our path forward is grounded in our mission to empower everyone, everywhere to access the global financial system to accelerate financial inclusion and economic empowerment. Designing products and infrastructure today with the metaverse in mind will facilitate innovation and provide better access and real cost savings, even before the metaverse becomes mainstream. Now is the time to lay the foundations for the future. Because once these foundations are in place, the potential of metaverses and the evolution of fintech will be limitless.

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