Payments in metaverses
What is going on?
A metaverse is a multi-environment that connects the offline and online worlds and is distributed among different applications. It offers more personalized user experiences and extensive opportunities for customizing interfaces. Currently, we don’t know a lot about metaverses from Meta (formerly Facebook), Microsoft, or other companies. But we can envision what their fintech layer might be.
In a metaverse, consumption occurs in real-time and is not limited to a single platform. For example, content created on Patreon can be used in the Roblox metaverse. But this requires a new infrastructure for digital assets and payments, whose basis has already been laid by open ecosystems.

Additionally, digital reputation will become more important as every action or process in the metaverse is digitized.
What will happen next?
Scenario 1
Metaverses will evolve in a decentralized manner, according to the principles of Web 3.0. Users will have more opportunities to manage data and content.
Scenario 2
Metaverses will evolve in a centralized manner, influenced by big tech companies and regulators. Users' ability to manage data and content will be controlled by creators of the metaverse.
The development of metaverses requires the growth of computing power and rapid technological development.
ESG agenda
Commitments to achieving ESG sustainability goals can limit the increase of technological capacities.
Regulatory requirements
Some countries will possibly restrict metaverses to protect user interests and competition in the economy.
Use Cases
Financial services embedded at user request
Currently, online sellers determine what kind of installment plan or insurance to integrate and where. In metaverses, users will want to make their own rules right from their digital wallets. For example, they can define a specific category of goods that will be offered with split payment on different platforms.

The BNPL service Zip has built its installments into Microsoft Edge. Offers appear every time a user lands on the checkout page for any purchase between $ 35 and $ 1,000.

Infrastructure for storing and exchanging different types of digital assets
Metaverse companies will have their own digital assets. Users will need to store and regularly exchange them, just like with any traditional currency in a bank account. This will be possible after wallets become interoperable, i.e., start supporting valid interactions with different types of assets. Fintech companies will have to develop the technical and legal frameworks for such solutions.

Scoring and reputation management
The economy of metaverses will be more transparent: it will be possible to digitize and measure more processes in both B2B and B2C. Reputation data, including data related to the ESG agenda, will become more important. This will reshape credit scoring models and drive the growth of reputation management tools.

Data management for user identification
With the development of metaverses, there will be more options and more complex scenarios for the use of identification technologies. Banks and fintech companies have long established themselves as identity operators and will develop their competence. However, metaverses require more flexibility and quicker response to changes, so user identification will be led by fintech companies.