{"id":5722,"date":"2022-05-13T14:55:16","date_gmt":"2022-05-13T14:55:16","guid":{"rendered":"https:\/\/scienceandnerds.com\/2022\/05\/13\/meta-even-brings-up-the-metaverse-when-rebranding-its-payment-system\/"},"modified":"2022-05-13T14:55:17","modified_gmt":"2022-05-13T14:55:17","slug":"meta-even-brings-up-the-metaverse-when-rebranding-its-payment-system","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2022\/05\/13\/meta-even-brings-up-the-metaverse-when-rebranding-its-payment-system\/","title":{"rendered":"Meta even brings up the metaverse when rebranding its payment system"},"content":{"rendered":"

Source: https:\/\/www.theverge.com\/2022\/5\/12\/23069251\/meta-facebook-pay-rebrand<\/a>
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Meta is continuing the Meta-fication of its brands by renaming Facebook Pay, its payment system<\/a> available across Facebook, Messenger, Instagram, and WhatsApp, to Meta Pay. The change is set to happen \u201csoon,\u201d according to a blog post<\/a> from Stephane Kasriel, Meta\u2019s head of commerce and financial technologies, and is the latest indication that the company formerly known as Facebook is all in on the metaverse<\/a>.<\/p>\n

\u201cWe\u2019re focused on enhancing the payments experiences we already provide with Facebook Pay where we\u2019re seeing good adoption,\u201d Kasriel wrote. \u201cAnd with this, an emphasis on quality in the countries that we are already in, rather than expanding to new countries right now.\u201d People in businesses in 160 countries use Meta\u2019s platforms to make payments, according to Kasriel\u2019s post.<\/p>\n

Meta is also looking at how to simplify the payments experience on its platforms. While Kasriel painted a broad picture, he didn\u2019t share much in the way of specifics:<\/p>\n

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We view this as a single wallet experience for people to use to represent who they are, what they own, and how they pay. We\u2019re in the very early stages of scoping out what a single wallet experience might look like and will have more to say further down the line. But to break down our early thinking, we\u2019re looking at: how you can prove who you are and carry that identity into different experiences in the metaverse; how you can store the digital goods you own and take them with you wherever you go; and how you can pay easily and with the payment method you want, whether that\u2019s to a friend or buying from a business or creator.<\/p>\n<\/blockquote>\n

Kasriel also discussed how Meta is thinking about Web3 technologies like blockchain and NFTs. \u201cImagine a world where entertainers or athletes can sell NFTs that fans purchase to display in their virtual Horizon Homes,\u201d he wrote in one example. (Horizon Worlds is Meta\u2019s social metaverse platform.) \u201cOr imagine all of this coming together when your favorite artist is playing a concert in the metaverse and shares an NFT you can buy to get a backstage pass for after the show.<\/p>\n

\u201cBeyond NFTs, there\u2019s a multitude of other Web3 tokens that we think are compelling \u2014 social tokens, community tokens, governance tokens \u2014 as well as tokenized real-world assets,\u201d he added. \u201cThere are a lot of opportunities here, and we\u2019re taking steps to understand them better and what they could mean for the metaverse.\u201d Meta is already dipping its toes in the water with NFTs \u2014 it announced this week<\/a> that it would begin testing the ability to share NFTs on Instagram, and CEO Mark Zuckerberg said that \u201csimilar functionality\u201d is coming to Facebook soon. <\/p>\n

Kasriel took over for David Marcus, who headed up Messenger and then Meta\u2019s stalled cryptocurrency project, after he left Meta at the end of last year<\/a>. While Meta called it quits on that cryptocurrency project in January<\/a>, based on Kasriel\u2019s blog published Thursday, it\u2019s clear that the company still sees many other opportunities in payments and blockchain. Marcus is still involved in cryptocurrency, by the way; on Thursday, he announced<\/a> his newest company, Lightspark<\/a>, which was created to \u201cexplore, build and extend the capabilities and utility of Bitcoin.\u201d<\/p>\n

Despite its vocal metaverse ambitions, Meta is slightly reducing its investment in the idea. Reuters<\/em> reported Wednesday that the company is telling staffers in its Reality Labs division to prepare for cutbacks<\/a> (though no layoffs are planned). But the company is still pushing hard on virtual reality, with Zuckerberg showing off Meta\u2019s upcoming high-end virtual reality headset in a short demo video earlier on Thursday<\/a>, and has big plans for augmented reality hardware<\/a>.<\/p>\n<\/div>\n


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Source: https:\/\/www.theverge.com\/2022\/5\/12\/23069251\/meta-facebook-pay-rebrand<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Source: Meta is continuing the Meta-fication of its brands by renaming Facebook Pay, its payment system available across Facebook, Messenger, Instagram, and WhatsApp, to Meta Pay. The change is set to happen \u201csoon,\u201d according to a blog post from Stephane Kasriel, Meta\u2019s head of commerce and financial technologies, and is the latest indication that the […]<\/p>\n","protected":false},"author":1,"featured_media":5723,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"pagelayer_contact_templates":[],"_pagelayer_content":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[17,8],"tags":[18],"class_list":["post-5722","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tech","category-technology","tag-tech"],"yoast_head":"\nMeta even brings up the metaverse when rebranding its payment system - Science and Nerds<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/scienceandnerds.com\/2022\/05\/13\/meta-even-brings-up-the-metaverse-when-rebranding-its-payment-system\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Meta even brings up the metaverse when rebranding its payment system - Science and Nerds\" \/>\n<meta property=\"og:description\" content=\"Source: Meta is continuing the Meta-fication of its brands by renaming Facebook Pay, its payment system available across Facebook, Messenger, Instagram, and WhatsApp, to Meta Pay. 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