Meta CEO Mark Zuckerberg announced rebranding Facebook Pay to Meta Pay and creating a digital wallet for the metaverse. The product is supposed to be integrated into all of the company’s supported social networks, which are Facebook, Instagram, WhatsApp, and Messenger. Zuckerberg said his vision of a digital wallet in a meta-universe would allow users to securely manage their identities, what they own, and how they pay. The features and overall user interface will remain the same.
“Meta Pay will be the same easy, secure way for you to shop, send money, and donate to causes you care about across our technologies, including Facebook, Messenger, Instagram, and WhatsApp, as well as anywhere you previously would’ve seen the Facebook Pay button while shopping online. Meta Pay’s features and overall user experience people know from Facebook Pay will remain the same. This change is first rolling out in the US and will roll out globally over time,” the company stated.
Users will be able to buy and sell all sorts of digital items in the future, Meta CEO says.
“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 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,” Zuckerberg informed.
Facebook Pay was launched in 2009. People and companies in more than 160 countries can make payments in 55 currencies.