"We want to rebrand to Meta to help our image, but let's name the payment app that'll be used across all of Meta after the specific brand that's been the focus of all of that bad publicity."
Seems to be the reason. In Brazil, everyone knows what Facebook is. Very, very, very few people would know what is Meta.
How ironic is it that you need to move from a brand name to another because you have bad reputation, but still have to use the old name because even with bad reputation, it's still more trustable to handle money than your no-reputation new brand?
Hmm, I hadn't realized it was branded differently in Brazil. Still seems to align with the same idea, since WhatsApp brand recognition is at least on par with Facebook in Brazil(also, I believe most people are aware that WhatsApp is made by FB, but I guess very few recognize Meta as of now).
Maybe they are scared that something shady about it will be exposed later so they are branding it with Facebook, an already tarnished name, and keeping the Meta brand clean?