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Technology Apple reportedly acquires startup that could turn iPhones into payment terminals

17:43  01 august  2020
17:43  01 august  2020 Source:   theverge.com

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Apple Inc. has acquired Mobeewave Inc., a startup with technology that could transform iPhones into mobile payment terminals , according to Apple typically buys startups to turn their technology into features of its products. Apple added Apple Pay to the iPhone in 2014, allowing users to pay for

Apple typically buys startups to turn their technology into features of its products. Apple added Apple Pay to the iPhone in 2014, allowing users to pay for physical goods with a tap in retail stores. Last year, it launched its own credit card, the Apple Card. Integrating Mobeewave could let anyone with

Apple has acquired a startup with technology that could turn iPhones into mobile payment terminals, Bloomberg reported. Montreal-based Mobeewave has tech that requires only an NFC chip to work, allowing users to tap either their smartphone or a credit card to another phone for payment processing. NFC chips have been included in iPhones since the iPhone 6. And while Apple Pay lets shoppers tap their iPhones to pay at a retail store, adding Mobeewave could allow any iPhone to accept payments without extra hardware like a card reader.

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Apple Inc. has acquired Mobeewave Inc., a startup with technology that could transform iPhones into mobile payment terminals , according to Apple typically buys startups to turn their technology into features of its products. Apple added Apple Pay to the iPhone in 2014, allowing users to pay for

Apple typically buys startups to turn their technology into features of its products. Apple added Apple Pay to the iPhone in 2014, allowing users to pay for physical goods with a tap in retail stores. Last year, it launched its own credit card, the Apple Card. Integrating Mobeewave could let anyone with

  Apple reportedly acquires startup that could turn iPhones into payment terminals © Illustration by Alex Castro / The Verge

According to Bloomberg, Apple paid about $100 million for Mobeewave, and has retained its team of employees. Neither company would comment on the transaction. Rival phone manufacturer Samsung partnered with Mobeewave last year on a pilot point-of-sale program in Canada. And as Bloomberg notes, Samsung’s venture division is an investor in Mobeewave.

Apple has acquired several other startups this year so far, including popular weather app Dark Sky in March. It looks to be integrating Dark Sky’s features into its native weather app in iOS 14 and has shut down the Android version of the Dark Sky app as of August 1st. Apple also confirmed in May that it bought VR broadcast company NextVR.

Apple confirms new iPhones probably won’t arrive in September .
This isn’t the first iPhone delay in historyMaestri didn’t reveal why this year’s iPhone supply is delayed or constrained, but rumors of an iPhone delay have been circulating for months. The Wall Street Journal reported earlier this year that Apple had delayed mass production of its upcoming iPhone handsets by around a month. Qualcomm also hinted at an iPhone delay earlier this week, highlighting a “partial impact from the delay of a global 5G flagship phone launch” for its fourth quarter projections.

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This is interesting!