A new blog post from Stephane Kasriel, Meta’s head of fintech, states that Facebook Pay is adopting the Meta branding. Soon to be Meta Pay – the refresh is working on enhancing the online payment experience.
Meta is also exploring how to make payments easier to process within the metaverse. Kasriel said that the company is in the “very early stages” of creating a single wallet experience for users. This would explore how you carry your identity throughout the metaverse, storing digital goods, and how you can easily pay with the method you want.
The company sees Meta Pay as an opportunity to “bring more people into the financial system.” With 1 billion people globally who don’t have any form of ID, Meta is looking to solve this problem; doing so could empower more users to support themselves, or even start their own business.
Meta Pay will also seeking to help businesses and creators better serve their audiences. With the potential of the metaverse expanding commerce opportunities, Meta Pay can make this possible. It said there will be more to expect regarding this area throughout 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.
More on Meta:
- Meta announces its first retail store as it wants more people to join the metaverse
- Apple calls out Meta for hypocrisy over its almost 50% cut on metaverse content
- Meta blasts App Tracking Transparency as ‘Apple’s harmful policy’ one year after policy start
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