- Magnati has launched an immersive platform to bring experiential commerce to the metaverse.
- The Abu Dhabi-based payments company announced Meta-V, which will make the payments experience feel like a bridge between 2D and 3D worlds.
- The platform will allow users to make payments for products and services through cards and wallets, among other options.
Magnati has launched Meta-V, an immersive platform created to bring experiential commerce to the metaverse. The Abu Dhabi-based payments company said on Thursday its new platform will allow users to make payments for products and services through cards and wallets, among other options.
The company said shopping at Magnati’s Meta-V will make the payments experience feel like a bridge between 2D and 3D worlds.
Commenting on the process of integrating traditional payment methods into the platform, Ramana Kumar, CEO of Magnati said: “Magnati-MetaV provides a platform that creates multi-dimensional experiences and integrates commerce. To encourage the adoption of new technologies, bridges with existing models are required for a smoother transition. Magnanti-MetaV is hence seamlessly integrating existing and futuristic payment gateway rails for customers to pay and purchase.”
The platform will let customers get a feel of retail offerings in a 3D immersive platform, thus bringing convenience to online shopping.
CEO Kumar said that the metaverse hyperrealism enables users to virtually experience a product, thus “providing a brand-new functionality that seeks to help retailers reduce sales cancellations, returns and exchanges.”
Meta-V has signed up to work with merchants and partners to create experiences and virtual stores including hotels and ticketing agencies, among others.
While the payments company’s new platform sounds innovative, the application is not that new. Emirates Airlines and several other flight service providers have already embraced Web3 payments that come bundled with exciting benefits.
Moreover, immersive e-commerce experiences are already active with leading metaverse gaming companies’, and fashion brands already offering similar experiences.
Kumar maintains that his company’s product is the first metaverse marketplace in the region, which has more weight given no one has explored the option of online payments in the metaverse.
“We are excited to be a pioneer in building a technologically advanced platform that has massive benefits for both merchants and consumers. We are inviting merchants to join the platform and be part of the metaverse revolution,” Kumar added.
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