#meta pay digital wallet

Meta CEO and founder of Facebook, Mark Zuckerberg on Wednesday has announced his new ventures for the Metaverse starting with a rebrand of Facebook Pay to Meta Pay and eventually, a metaverse digital wallet. Zuckerberg says he envisions a future when Meta Pay will serve as a universal wallet for all the digital items to buy or create across the metaverse. He also emphasized how the company’s metaverse wallet will enable proof of digital ownership, especially if users want to take some of the digital goods across other services. The metaverse wallet sounded a lot like crypto wallets that hold NFTs, although Zuckerberg’s post did not mention blockchain technology at all. However, that interoperability hasn’t stopped Meta from selling digital goods in the meantime. The central bank also emphasized that digital payment fees are expected to be lower than charges for manual or over-the-counter transactions because electronic channels are generally more efficient and cost-effective to operate. The BSP said the new framework supports its broader goal of promoting digital payments, financial inclusion, and innovation while ensuring adequate consumer protection and regulatory oversight. The BSP said the updated rules aim to create a more sustainable pricing environment for digital payments while ensuring consumers continue to have access to fast, secure, convenient, and affordable electronic fund transfer services. Read more in our articles including "Zuckerberg intros digital wallet for the Metaverse, rebrands Facebook Pay to Meta Pay" and "Banks, e-wallets face new BSP rules on digital payment fees".