Apple reportedly acquires startup that could flip iPhones into payment terminals

Apple reportedly acquires startup that could turn iPhones into payment terminals

Apple has acquired a startup with technological know-how that could switch iPhones into mobile payment terminals, Bloomberg noted. Montreal-centered Mobeewave has tech that calls for only an NFC chip to get the job done, letting buyers to tap either their smartphone or a credit score card to one more cellphone for payment processing. NFC chips have been included in iPhones due to the fact the Apple iphone 6. And though Apple Fork out lets purchasers faucet their iPhones to shell out at a retail store, including Mobeewave could make it possible for any Apple iphone to accept payments without added hardware like a card reader.

In accordance to Bloomberg, Apple paid out about $100 million for Mobeewave, and has retained its team of staff. Neither business would remark on the transaction. Rival telephone maker Samsung partnered with Mobeewave very last yr on a pilot position-of-sale method in Canada. And as Bloomberg notes, Samsung’s undertaking division is an trader in Mobeewave.

Apple has acquired quite a few other startups this yr so much, including preferred weather application Darkish Sky in March. It appears to be like to be integrating Dim Sky’s functions into its native weather application in iOS 14 and has shut down the Android model of the Darkish Sky application as of August 1st. Apple also confirmed in May well that it acquired VR broadcast business NextVR.

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