A new blog post by Stefan Kasriel, head of financial technology at Meta, says that Facebook Pay is adopting the Meta branding. Meta Pay Coming Soon – An update is working to improve the online payment experience.
Meta is also looking into ways to make it easier to process payments in the metaverse. Kasriel said the company is in a “very early stage” of creating a single wallet for users. This will allow you to explore how you carry your identity throughout the metaverse, store digital goods, and how you can easily pay in a way that suits you.
The company sees Meta Pay as an opportunity to “get more people into the financial system.” With 1 billion people worldwide who don’t have some form of ID, Meta aims to solve this problem; this could allow more users to support themselves or even start their own businesses.
Meta Pay will also be committed to helping businesses and creators better serve their audiences. With the potential of the metaverse to expand commercial opportunities, Meta Pay can make this possible. It says more can be expected in this area throughout the year.
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Our path forward is based on our mission to bring everyone, everywhere, access to the global financial system to accelerate financial inclusion and expand economic opportunity. Designing products and infrastructure with the Metaverse in mind today will help make it easier to implement innovations that will enable greater access and real cost savings—even before the Metaverse becomes mainstream. It is time to lay the building blocks for the future. Because once this foundation is laid, the potential of the metaverse and the possibilities for fintech development will become limitless.
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