Orange Money signs MoU with LivaatVerse

Metaverse gets its first-ever mobile wallet, helping users and brands to simplify the payment mechanism in the virtual world.

In a recent development, Orange Money enters LivaatVerse by signing a Memorandum of Understanding with the venture. Also known as Petra Mobile Payment Services, Orange Money will facilitate the payment functions in the Arabic metaverse. This falls in line with the aim of Orange Money of adopting the latest technological developments.

Engineer Sami Smeirat, the Chairman of Orange Money, has highlighted the development by echoing similar words. Smeirat has said that it fully meets the objective of becoming the first multi-service operator while noting that Orange Money has become the first in the number of open wallets to enter the metaverse. Orange Money has registered over 700 thousand transactions, the highest in terms of volume and the largest in Jordan in terms of PSPs.

Walid Hamdan, the Chief Executive Officer of UBITC Group, has stated that Orange Money will now play a very important role in developing the infrastructure of the mobile payments sector.

While the payment gateway sector is limited at this stage, there is true potential for its growth in the future. The entry of Orange Money in the metaverse will make way for others to follow. For now, the primary goal is to make the payment facility safer for the users without compromising their experience.

It will be followed by another goal where more people have to be brought on board to carry out online digital payments in LivaatVerse.

All the developments have been falling in line with both partners as of now. Mohamed Ismail, a Co-Founder of UBITC & a developer of LivaatVerse, has lauded Orange Money for entering the metaverse. Orange Money is estimated to offer good support to companies in all sectors to keep them updated with the latest developments in technology and technological breakthroughs.

What all this could lead to is sustainable growth for all the parties involved in the community. The future looks to be supported by virtual reality, augmented reality, and artificial intelligence.

Orange Money will be basically a part of the infrastructure that the developers of LivaatVerse have created themselves. The core aim remains to better serve the community with all the layers of security. Units in LivaatVerse will play a role in supporting and managing the virtual world.

Users, needless to say, will continue to have a seamless experience with a wider offering in the virtual world.

Metaverse and mobile wallets have been looking for sustainable integration. Orange Money and LivaatVerse make it the first in the industry, with other players to soon follow the path. The partnership works well for Orange Money as it goes on to become the exclusive mobile wallet for Jordan for all the financial transactions in LivaatVerse.Orange Money will build its Digital Twin to accomplish the said goals and take the partnership forward for a long time.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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