International Finance

Meta CEO Zuckerberg rebrands Facebook Pay to Meta Pay

IFM_Facebook pay rebranded to Meta pay-image
Meta Pay will operate the same way as it was previously being used for shopping, sending money, donating etc.

In a recent development, Meta CEO Mark Zuckerberg has confirmed that he is renaming their payment wallet from Facebook Pay to Meta Pay.

In terms of operations, Meta Pay will operate the same way as it was previously being used for shopping, sending money, and donating to causes on social media websites such as Facebook, Instagram, Messenger, etc.

In his blog post, Mark Zuckerberg wrote, we are developing a wallet for the metaverse which will allow one to securely manage their identity, what they own and how to pay in addition to the present functionality.

He further added, that users will be able to make and purchase a variety of digital products in the future, which will include virtual goods like experiences, virtual events, music, films, and clothes.

The blog post further mentioned that the ownership documentation will be crucial, particularly if customers wish to transfer some of these assets between services. Customers will also get 24/7 customer service via email or chat.

Users should ideally be able to sign into any Metaverse experience and find whatever they’ve purchased there.

There is still a long way to go, this type of connectivity will result in significantly better user experiences and greater potential for producers, Zuckerberg concluded.

This particular change in the name will be initially out in the US and will gradually go global over time.

Mark Zuckerberg is also planning to integrate NFTs into Instagram and Facebook. The company hasn’t listed any further plans on building the metaverse using crypto or any other thing.

Image Credits: Facebook

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