Mark Zuckerberg

Meta CEO Mark Zuckerberg has confirmed that the company is changing the name of Facebook Pay to Meta Pay. Also Read – Meta, Microsoft, other tech giants form metaverse standards body, except Apple: Check details

Meta Pay will stay the same easy way to shop, send money, and donate to causes users care about on Facebook, Instagram, WhatsApp, Messenger, and anywhere else they could use Facebook Pay. Also Read – Mark Zuckerberg shares new ways for creators to earn money on Facebook, Instagram

“But beyond the current features, we are working on something new — a wallet for the metaverse that lets you securely manage your identity, what you own, and how you pay,” the CEO said in a Facebook post. Also Read – Mark Zuckerberg shows off Meta’s virtual reality headset prototypes: Check details

“In the future there will be all sorts of digital items you might want to create or buy — digital clothing, art, videos, music, experiences, virtual events, and more,” it added.

Zuckerberg mentioned that proof of ownership will be important, especially if users want to take some of these items with them across different services.

Ideally, users should be able to sign into any Metaverse experience and everything they have bought should be right there.

“There is a long way to get there, but this kind of interoperability will deliver much better experiences for people and larger opportunities for creators,” Zuckerberg said.

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