Social media has become part and parcel of our lives. In fact, surfing through social media has become one of our favourite pastimes. There are quite a few social media platforms, which enjoy great popularity. However, none of these will come closer to Facebook. This social media giant has a crazy user base. In fact, what makes Facebook more interesting is that it is much more than a social media platform provider. It also provides some other services. Facebook Pay, a payment app, is one of these.
In 2021, Mark Zuckerberg changed the name of the Facebook company to Meta. Since then some changes have taken place in the products of the company. Recently, Zuckerberg announced the launching of Meta Pay. Read the article to know more about Meta Pay.
Facebook Pay Versus Meta Pay – The Difference
Since Facebook Pay will now become Meta Pay, the users might be worried about the upcoming changes. However, there is nothing to be worried about. The new Meta Pay will function in the same manner as its earlier version. Therefore, it means that the existing users will have to do nothing to start using the new Meta Pay. In fact, all the existing Facebook Pay information will remain intact in the new app. Moreover, the payment method and account settings will also remain unchanged.
In fact, new users can also join Meta Pay by following a few easy steps. In order to set up the new Meta Pay, users have to visit the Payment settings and enter the payment method and account information. What is interesting is that Meta Pay will support most major credit and debit cards, including PayPal and Shop Pay. Therefore, the existing Facebook Pay users have nothing to be worried about. Most things will be the same as earlier.
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What’s New in Meta Pay?
Mark Zuckerberg recently posted on Facebook to announce the arrival of Meta Pay. In that post, he stated that the app remains basically the same as the earlier Facebook Pay. In fact, we can shop, send money, and donate money across various platforms like Facebook, Instagram, WhatsApp and Messenger. Moreover, Meta Pay can be used everywhere.
However, Zuckerberg further added that along with the basic features, the company is working towards creating a wallet for the ‘metaverse’, which will securely manage the users’ identity. Now, this is something new and interesting also.
Moreover, Zuckerberg added that in the future, while creating and buying digital items, ownership will become an important issue. Therefore, the company is working towards a unique goal. They are trying to create something that whenever users’ will sign in on any of Meta’s platforms, all the purchases made by them will be there.
According to Zuckerberg, this ‘interoperability’ will benefit the users and creators in a great way, by creating a bigger market for them. Therefore, it seems that with Meta Pay, Zuckerberg is planning something really big.
Payment Security And Protection
The company claims that they have been providing secured and trusted payment services since 2009. Moreover, it is also allowing transactions in around 55 currencies. Therefore, the security encryption used in Facebook Pay has been able to handle things successfully. So, Meta Pay is willing to use the same kind of encryption for storing payment card numbers securely.
In addition, Meta Pay will have an anti-fraud monitoring feature. This will help the users to detect all unauthorized transactions. Therefore, the company will be looking to make Meta Pay a unique and safe app for transactions.
Concluding Lines
Mark Zuckerberg recently announced the arrival of Meta Pay. The rebranded version of Facebook Pay remains almost similar to its previous version. However, there are some added benefits to the new version. One essential feature is its revamped security system.
In fact, cyber scams and online frauds have increased greatly after the pandemic. Every year a large share of the population falls prey to scammers. Therefore, the new anti-fraud monitoring feature in Meta Pay will surely make it a safer medium for online transactions. Moreover, as Zuckerberg has announced, Meta Pay will be helping digital creators and buyers flourish without fear. They are working on this feature and are expected to serve the Meta Pay users very soon.
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