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Mark Zuckerberg Officially Launches Meta Pay

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On Wednesday Mark Zuckerberg officially launched Meta Pay, a digital wallet for the metaverse.

Zuckerberg said Meta Pay is exactly the same way Facebook Pay was, with improvements here and there to fit the idea of the metaverse.

“It’ll stay the same easy way to shop, send money, and donate to causes you care about on Facebook, Instagram, WhatsApp, Messenger, and anywhere else you could use Facebook Pay. But beyond the current features, we’re working on something new: a wallet for the metaverse that lets you securely manage your identity, what you own, and how you pay,” Zuckerberg wrote in a Facebook post.

The company first hinted that it is planning to make this change to its digital payment service in May, and said that they are focused on enhancing the payments experiences that they already provide with Facebook Pay.

“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. Proof of ownership will be important, especially if you want to take some of these items with you across different services,” Zuckerberg said.

Meta, the giant tech company, has also been rumoured to be working on a digital currency dubbed “Zuck Bucks,” which will probably be used across its platforms (Instagram, WhatsApp, and Facebook). This rumoured digital currency is reportedly unlikely to be a cryptocurrency since the company failed to make one in 2019, according to The Verge. The company has, however, been introducing NFTs on Facebook and Instagram.

Zuckerberg said that they also want to explore interoperability on the digital wallet to make the experience better for everyone.

“Ideally, you should be able to sign into any metaverse experience and everything you’ve bought should be right there,” he said.

“There’s a long way to get there, but this kind of interoperability will deliver much better experiences for people and larger opportunities for creators. That is, the more places you can easily use your digital goods, the more you’ll value them, which creates a bigger market for creators,” Zuckerberg explained.

By Zintle Nkohla 

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