Meta Pay is the new Facebook Pay as company chases identity and digital goods features

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Facebook Pay has adopted the Meta logo, according to a recent blog post by Stephane Kasriel, Meta’s director of finance. Soon to be Meta Pay, the update aims to improve the online payment experience.

Meta is also looking on making it simpler to accept payments in the metaverse. The startup is in the “very early phases” of developing a unified wallet experience for consumers, according to Kasriel.

This would look at how you can carry your identity throughout the metaverse, store digital items, and pay with whichever way you wish.

Meta Pay is a chance for the corporation to “get more individuals into the banking system.” Meta is attempting to tackle the issue of 1 billion individuals worldwide who lack any form of identification; doing so might enable more users to sustain themselves or perhaps start their own company.

Meta Pay will also work to assist companies and content providers in better serving their audiences.

Meta Pay can help with this since the metaverse has the ability to boost trade options. It was said that there would be more to come in this area over the year.

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.

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