Meta is focused on making payments better and more enjoyable for those who use Facebook Pay and have shown.
The social network reported that companies and people from 160 countries and 55 different currencies.
Meta Pay includes person-to-person, business-to-business, business-to-person, and consumer-to-business transactions.
Meta continues to bet on the world of the metaverse, which is why since then the company has been unifying, announcing on this occasion that the name of the payment system known as Facebook Pay will change to Meta Pay.
According to data from Statista, the company Meta expanded its workforce continuously throughout the period until it exceeded the figure of 71,970 workers in 2021. This represents an increase in the number of employees of more than 20 percent compared to 2020 . Of these, 59 were Facebook workers in Spain, as of 2019.
Facebook Pay will now transform into Meta Pay
According to a blog post by Stephane Kasriel, head of commerce and fintech at Meta, the company is working to grow Meta with a focus on the metaverse, so they’re investing in improving existing payment experiences since 2009.
The social network reported that companies and individuals from 160 countries and 55 different currencies use Meta’s platforms to make payments, which include person-to-person, business-to-business, business-to-person and consumer-to-business transactions.
“The experience people see today is Facebook Pay, but we’ll soon bring it closer to the Meta brand by rebranding it to Meta Pay,” Kasriel said.
He assured that Meta is focused on making payments better and more pleasant for those who use Facebook Pay and have shown “good adoption” in the countries where they are currently located, however, the ambition is to continue expanding to new regions.
He recalled that in the United States they brought new payment features to Messenger, including the /pay command, the ability to split payments, cash birthday gifts and QR codes to send or request money.
In the case of Brazil, they have been investing in partnerships with local financial institutions for those who historically have not had access to digital payments.
He noted that they are creating ways for users to ask questions about specific products, make purchases and receive order confirmations, tracking numbers and delivery status updates in real time. All this would be from Messenger, so they don’t have to go to secondary applications or other Meta platforms.
“We’re looking at further simplifying the payments experience on our platforms now, so people and businesses can access the benefits of interoperability in the metaverse.”
It would be a single wallet “for people to represent who they are, what they own and how they pay.” The project is in the early stages of exploring what the single wallet experience would look like, so more information will be released at a later date.
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