Facebook Pay, which was launched in 2019, has now changed its name to Meta Pay. This seems to be the seriousness of Meta working on the Metaverse project.
Launching from Engadget, through his announcement, Meta CEO Mark Zuckerberg said this name change was the first step to creating a digital wallet that can be used in the Metaverse world.
Although changed, the name of the application has not changed much. Users can still use this platform as a payment transaction or send money via Facebook, Instagram, and WhatsApp.
In the future Zuck envisions Meta Pay will serve as a universal wallet for all digital goods purchased or created on the Metaverse.
"Proof of ownership is going to be important, especially if you want to carry some of this stuff across different services. Ideally, you should be able to log into any Metaverse experience and everything you buy should be there," Zuckerberg said.
In other words, Zuck hopes that Meta Pay can become the official digital wallet on the Metaverse. He admits that this payment system is still far from what he imagined.
However, Zuck claims that these digital payments will provide a much better experience for people and greater opportunities for content creators.