Facebook Pay is now Meta Pay and will be a digital wallet for the metaverse

Facebook Pay is now Meta Pay and will be a digital wallet for the metaverse

Meta CEO Mark Zuckerberg announced last Wednesday that, as revealed last month, Facebook Pay has officially changed its name and is now called Meta Pay. The new phase will transform the system into the “digital wallet of the metaverse”.

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According to Zuckerberg, the platform can still be used to send money to companies and friends through Instagram, Facebook, WhatsApp and Messenger and also to donate to social causes.

In the case of the metaverse, Meta Pay is intended to be a secure system to manage users’ identity and payment systems.

“In the future, there will be all kinds of digital items you might want to create or buy — digital apparel, art, videos, music, experiences, virtual events and more. Proof of ownership will be important, especially if you want to take some of these items with you on different services.”

New opportunities

According to the executive, the idea of ​​our system phase is to make people who use the metaverse be able to have everything they bought in one place. Zuckerberg stressed that this is still “a long way”, but that such unified experiences will provide many opportunities for digital content creators.

“That is, the more places you can easily use your digital products, the more you will value them, which creates a bigger market for creators. The more easily you transact, the greater the opportunity for creators as well. We’re looking forward to building that,” he argued.

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