Meta, where Mark Zuckerberg turned his radar towards the metaverse, continues to change the features of social media platforms extensively. Facebook’s payment service Facebook Pay, which first appeared in 2009, is finally going to change its name.
Meta’s Head of Financial Services Operations, Stephane Kasriel, said the company’s native payment instrument will be called Meta Pay. Developed for the payments of games like FarmVille or sending money from Messenger, Facebook Pay has become the latest candidate for Meta’s name change frenzy.
Facebook Pay is gone, Meta Pay is here
Facebook, which started to reorder its services by changing the name of the company last year, has also started to rename its products. For example, Oculus Quest now offers its VR headset and Facebook Portal smart webcam as Meta Quest and Meta Portal.
The last example of Meta’s name change was experienced by Facebook Pay. The payment service will now be called Meta Pay, according to Stephane Kasriel, Head of Operations for Financial Services. But Kasriel said the payment service is still in the early stages of being renewed.
Kasriel stated that the wallet service offered by Meta in its products could be rearranged. “We are in the early stages of determining what a single wallet experience might look like and will have more to say in the coming days,” he said.
Meta already has a digital wallet called Novi. While it is unknown whether Meta Pay will be integrated into this wallet, it is also known that the company is working on a “virtual currency” called Zuck Bucks. It was also underlined that this project would not be a crypto currency.
Meta’s plans for NFT, metaverse and crypto are still not fully disclosed, but it is worth noting that it has suffered financially. For example, the company’s Reality Labs division, which manages its hardware and metaverse ventures, reported a loss of $10 billion in 2021 alone.
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