Magnati has launched Meta-V, an immersive platform created to bring experiential commerce to the metaverse. The Abu Dhabi-based payments company said Thursday that its new platform will allow users to make payments for products and services through cards and wallets, among other options.
Magnati is proud to launch "Experiential Commerce" through Magnati-MetaV, regions first metaverse fully integrated with existing payments infrastructure driving migration from "electronic" commerce to "experiential commerce" pic.twitter.com/XWfFdvfs8a
— Magnati (@MagnatiPay) June 30, 2022
The company said shopping on Magnati’s Meta-V will make the payment experience like a bridge between the 2D and 3D worlds.
What will Meta-V offer?
Commenting on the process of integrating traditional payment methods into the platform, Ramana Kumar, CEO of Magnati, said:
“Magnati-MetaV offers a platform that creates multi-dimensional experiences and integrates commerce. To encourage adoption of new technologies, there is a need to build bridges with existing models to ease the transition. Hence, Magnanti-MetaV seamlessly integrates existing and futuristic payment gateway rails for customers to pay and shop.”
The platform will enable customers to get a glimpse of merchants’ offerings on an immersive 3D platform, thus bringing convenience to online shopping.
CEO Kumar said Meta-Verse Hyperrealism allows users to virtually experience a product, thereby “providing an entirely new functionality that aims to help retailers reduce sales cancellations, returns and exchanges.”
Meta-V has signed up to work with merchants and partners to create virtual experiences and stores, such as hotels and ticketing agencies, among others.
While the payments company’s new platform seems innovative, the application is not so new. Emirates Airlines and other airline service providers have already embraced web payments3, which come with exciting benefits.
In addition, immersive e-commerce experiences are already active with major metaverse gaming companies and fashion brands already offer similar experiences.
Kumar argues that his company’s product is the first metaverse marketplace in the region, which carries more weight given that no one has explored the option of online payments in the metaverse.
“We are excited to be pioneers in building a technologically advanced platform that has enormous benefits for both merchants and consumers. We invite merchants to join the platform and be part of the metaverse revolution,” added Kumar.
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