Facebook Pay will no longer be called as it is, the payment service will change its name to Meta Pay. Meta is the parent company of the social network and has been going through various changes for a few months now.
Goodbye Facebook Pay, hello Meta Pay
The Oculus Quest and Facebook Portal, for example, are now known as Meta Quest and Meta Portal. So it’s only natural that the company also plans for the future of its payments experience as it continues to expand into the metaverse, which involves a name change. It was Stephane Kasriel, head of fintech services at Meta, who @skasriel/where-the-metaverse-can-take-fintech-a936e6bd6987″ rel=”external nofollow”> unveiled the name change.
With this name change, the company is focused on improving the payment experiences it already offers with Facebook Pay in regions where it sees good adoption, rather than focusing on expanding into new countries. . Meta is also exploring how to further simplify the payment experience on its platforms to make it easier to access and process in the metaverse. Stephane Kasriel said the group is in the very early stages of exploring what a single portfolio might look like. He pointed out that when it comes to initial thinking, Meta is about how to prove who you are and how to carry that identity into different experiences in the metaverse.
Facebook has been in the payments industry since 2009 and reports that people use its platforms to make payments in 160 countries and 55 currencies, including person-to-person, business-to-business and business-to-consumer payments.