Kerry firms to allow payments in virtual world

With Fexco’s help, Xavatar will launch a digital wallet and token providing real-world shopping and entertainment experiences.

Two Kerry companies are partnering to allow for digital payments to be accepted and processed within virtual worlds.

Payments firm Fexco has partnered with AI-driven entertainment company Xavatar to deliver payment technology within the metaverse. The partnership will create a payments facility within the Xavatar-created virtual world called the Xataverse which is accessed using virtual reality headsets, mobile devices, tablets and other tech devices.

Users within the Xataverse will be able to make transactions using a digital wallet based on Fexco payment technology. The partnership announcement follows Xavatar's debut at the Cannes Film Festival which featured a live production of their soon-to-be-released TV series, “The Art of Movie Music”. It is a variety talk show about movies and music which can be accessed via terrestrial TV, and entered via the Xataverse.

With Fexco’s help, Xavatar will launch a digital wallet and token providing real-world shopping and entertainment experiences.

"When we envisioned the concept of the Xataverse and the accompanying payment system, Fexco helped us to understand the mechanics and together, we were able to integrate what this process will be for the greater ecosystem that encapsulates our immersive experience of The Xataverse," Kevin Sharpley COO of Xavatar said.

Karl Aherne COO of Fexco said: "The metaverse offers an exciting new opportunity for fintech innovations. This partnership allows us to leverage Fexco’s decades of experience in cutting-edge payments technology and the expertise of the Xavatar team to deliver an unparalleled customer focussed payment experience within the Xavatar metaverse and online."