Saturday, 15 May, 2021

Apple reportedly acquires startup that could flip iPhones into payment terminals

Apple Acquired Mobeewave, a Startup That Lets Smartphones Accept Payments Using NFC Apple buys startup that turns smartphones into mobile payments terminals
Cecil Davis | 02 August, 2020, 03:38

The framework works with an application and doesn't require equipment past a Near Field Communications, or NFC, chip, which iPhones have included since 2014.

According to sources quoted in the Bloomberg report, the valuation of the deal puts the company as a top focus for Apple. Apple will be retaining Mobeewave's existing employees.

Apple has acquired a startup with technological know-how that could switch iPhones into mobile payment terminals, Bloomberg noted. The company will continue to operate out of its Montreal offices, according to sources.

Apple confirmed the acquisition with its typical statement: "Apple buys smaller technology companies from time to time and we generally do not discuss our goal or plans".

Hamilton hopes to stay in F1 for at least three more years
So to hear that he's said that's not easy firstly for anybody to admit that you're wrong. "So my goal is to continue to deliver for as long as I can".

Apple often acquires smaller companies so that it can turn their proprietary technology into features of its own products.

Apple Pay lets users pay for physical goods and services with a simple tap at various retail outlets. But the iPhone company has been moving more in the financial services direction in recent years, as evidenced by the introduction of the Apple Card (among other things).

With this acquisition, Apple will be in more direct competition with Square Inc. Square Capital offers small business loans from $500 and up to $100,000. Users don't have to attach any accessory to their phones - all they need to do is input the transaction amount in the app and then tap a card or another smartphone onto the back of their device. Samsung's venture division has invested in Mobeewave's operations. Rival telephone maker Samsung partnered with Mobeewave very last yr on a pilot position-of-sale method in Canada. Pitchbook data reveals that the startup has secured over $20 million in capital, to date. Also, Apple acquired virtual reality company NextVR, which provides VR experiences for watching live events. Apple's stocks surged on Friday, and managed to significantly outperform the larger market.