Competitor Profile: Meta Pay 2024

Competitor Profile: Meta Pay 2024 Summary Meta Pay (formerly Facebook Pay) is a digital payment provider that allows users to make payments via Meta-owned social media platforms Facebook, Messenger, WhatsApp, and Instagram. Meta Pay is now available to users across 144 countries and supports payments in 55 currencies, enabling online, in-app, and P2P payments. Facebook initially rolled out P2P payments in the US via Messenger in 2015. It subsequently introduced Facebook Pay in November 2019, bringing its payment options under a single umbrella across Facebook, Messenger, Instagram, and WhatsApp. Facebook Pay was rebranded to Meta Pay in June 2022. Meta Pay enables customers to make payments through social media platforms as well as via participating online merchants. It allows users to buy event tickets, make donations, and purchase games, as well as buy products from ecommerce platforms that offer their products and services on Meta-owned platforms. This integration of social media with online shopping provides a convenient purchasing experience to users as they can view products and make payments directly via social media platforms, thus merging social interactions with financial transactions. The report provides information and insights into Meta Pay including - - Detailed insight into its business - Comprehensive coverage of its products and services - Comparative assessment with key alternative payment solutions - The company's important events and milestones Scope - In March 2015, Facebook introduced P2P payments via Messenger in the US. - In May 2018, Meta Pay partnered with tech company Flyt in the UK to enable customers at restaurants to make bill payments via Messenger. - In August 2020, Meta Pay launched new unit Facebook Financial to manage its payment-related projects including Facebook Pay. - In April 2021, Meta Pay relaunched its payment solution for WhatsApp users in Brazil. - In September 2023, Meta partnered with payment services providers PayU and Razorpay to launch WhatsApp in-chat payments for Indian merchants. This enables merchants to receive payments from customers via methods such as debit and credit cards, online banking, and Unified Payments Interface payment apps. Reasons to Buy - Gain insights into Meta Pay business operations and key events. - Gain insights into its product portfolio. - Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.