By Leandra Monteiro
- Digital Payments
- Instant Payments
Petra Mobile Payment Services, known as Orange Money, signed a Memorandum of Understanding with LivaatVerse, the first Arab Metaverse platform, to officially mark the mobile wallet’s entry to the Metaverse by building its Digital Twin using the LivaatVerse technology and becoming Jordan’s exclusive mobile wallet for financial transactions in LivaatVerse.
Engineer Sami Smeirat, Chairman of Orange Money, stressed that this step comes in line with Orange Money’s strategy of adopting the latest technological developments to be a multi-service operator, noting that Orange Money has become the first in the number of open wallets which exceeded 700 thousand, and the highest in volume of transactions, according to data from official sources, and the largest among PSPs in Jordan.
Walid Hamdan, CEO and partner of Ultra Brains Investment & Trading (UBITC) Group, asserted that, through this step, Orange Money will play an integral role in developing the infrastructure for the mobile payments sector towards a smart and sustainable future, in line with rapid developments. Payment gateways will be established for all sectors soon based on simulation technology of reality, to ensure a safer environment and increase the number of people carrying out online digital payments in LivaatVerse, he added.
Mohamed Ismail, co-founder of UBITC and owner and developer of LivaatVerse, said, “Orange Money’s presence in LivaatVerse will be the support that companies in all sectors need to keep abreast of the latest and most advanced technological breakthroughs and utilize these breakthroughs to build fast and sustainable communication and interaction means, supported by virtual reality, augmented reality, and artificial intelligence technologies, to facilitate the work of providers in this sector.
LivaatVerse was created to be a real metaverse that aims to serve the community. The developer has come a long way in building the infrastructure for the Metaverse, comprising integrated units supporting and managing this virtual world, which Orange Money will be a part of, under the agreement.