Facebook Pay Is Being Renamed Meta Pay

pcmag.com:

The Meta-fication of the internet continues with the rebranding of Facebook's mobile payment platform to Meta Pay.

Customers can expect to see the name change "soon," according to Stephane Kasriel(Opens in a new window), head of commerce and financial technologies at Meta.

Available across Facebook, Messenger, Instagram, and WhatsApp since 2019, the soon-to-be Meta Pay is used by people and businesses in 160 countries for payments, split charges, gift cash, and to request money in 55 currencies.

And while the rebranding is underway, Meta is in the early stages of creating what it calls a simplified "single wallet experience" for people to represent "who they are, what they own, and how they pay," Kasriel said. That is, how users can prove their identity, store digital goods, and, most importantly, have them available in the metaverse.

"We see this as an important opportunity to bring more people into the financial system," the blog said, highlighting the importance of connecting folks to basic investment services. "We've seen first hand that when people can access financial tools, they're more empowered to support themselves and others, or start a business."

Facebook, Inc. renamed itself Meta in October last year to reflect the company's new priority on building a Ready Player One-esque virtual reality world where people live, work, and play through avatars and digital goods. The retitling, however, was not limited to jut the parent company: Products such as Oculus Quest and Facebook Portal are now known as Meta Quest and Meta Portal. It's unclear whether Facebook Messenger will follow suit.

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