Mark Zuckerberg revealed that beyond the existing features of Meta Pay, the company will work on introducing a wallet for the metaverse

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Meta rebrands Facebook Pay as Meta Pay (Credit: Patrick Rogers Photography/Meta)

Meta has renamed Facebook Pay as Meta Pay in a move to bring its payments offering closer to the social technology company’s brand name.

According to the company, Meta Pay will continue to enable users to shop, send money, and donate for charity across its platforms such as Facebook, Instagram, Messenger, and WhatsApp. The payment offering can be used anywhere the Facebook Pay button was seen previously by users while shopping online.

The features and overall user experience of Meta Pay will be the same as Facebook Pay. The change in the brand is being implemented in the US initially and will be done over time in other parts of the world.

Meta CEO Mark Zuckerberg, in a Facebook post, revealed that beyond the existing features, the company will work on introducing a wallet for the metaverse. The wallet will allow users to manage their identity, what they own, and how they pay, all in a secured manner.

Zuckerberg wrote: “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.”

The payment service from Meta is being offered since 2009. Currently, people and businesses in more than 160 countries can use it for making payments in 55 currencies, said the social technology company.

Last week, Meta introduced the Meta Avatars Store to provide more ways to users to customise their avatar. The store has been launched with digital outfits to purchase from Balenciaga, Thom Browne, and Prada along with Meta’s already available free outfit options.