Bangkok: Facebook is set to introduce a paid identity verification service, charging users 420 baht per month, commencing in Australia and New Zealand this week.
According to Thai News Agency, Mark Zuckerberg, CEO of Meta, announced that the social media giant will implement a monthly fee of $11.99 for account verification. This service will require users to verify their accounts with government-issued identification documents, granting them a blue badge, enhanced protection against impersonation, and direct customer support. The initiative aims to improve the accuracy and security of Facebook's services. While the new feature will not alter the status of already verified Facebook and Instagram accounts, only individuals over 18 years will be eligible to register. The service is not yet available for businesses.
Meta's decision comes amid financial challenges faced over the past year. In November, the company announced it would lay off 11,000 employees, representing 13 percent of its workforce, marking the largest layoffs in its history. The company is also under scrutiny for its investments in the metaverse, a virtual reality world envisioned by Zuckerberg as the next online frontier.
Last year, Meta experienced a significant drop in its stock price, losing two-thirds of its value over 12 months. However, the stock has partially recovered in 2023. Despite these challenges, Zuckerberg remains optimistic about Meta's future, highlighting that Facebook's daily active users recently surpassed 2 billion. The company did report its first annual sales decline since its 2012 launch, but the decrease was less severe than anticipated.