Apple Acquired Mobeewave, a Startup That Lets Smartphones Accept Payments Using NFC
Apple has purchased payments startup Mobeewave, which created a system that lets shoppers tap a credit card or smartphone on another phone to process a payment. The functionality could allow iPhones to be used as payment terminals with no additional hardware required.
According to Bloomberg, Apple purchased the startup for approximately $100 million. Mobeewave's technology works with NFC, which is built into all modern iPhones. Mobeewave's website says sending payments with the Mobeewave app is as simple as inputting a transaction amount and tapping an NFC-enabled card on the back of a smartphone.
Apple hired the whole Mobeewave team, which includes dozens of employees, and the company is continuing to work from Montreal where it is based. Apple confirmed the acquisition with its typical statement: "Apple buys smaller technology companies from time to time and we generally do not discuss our purpose or plans."
As Bloomberg points out, the acquisition has the potential to allow Apple to compete with companies like Square, which makes hardware that allows iPhone users to accept credit and debit card payments.
Popular Stories
Earlier this year, Apple informed the European Union that it had agreed to acquire certain assets and hire employees from PlasmaSolve, according to a notice published today on the European Commission's website.
Apple Inc. ("Apple"), through a subsidiary, will acquire the entire issued share capital of PlasmaSolve s.r.o. ("PlasmaSolve") and offer employment to and hire certain PlasmaSolve...
Bloomberg's Mark Gurman today further outlined what to expect from the Apple Watch Series 12 and Apple Watch Ultra 4 set to be unveiled on September 9.
While it was initially rumored that Touch ID may be coming to the Apple Watch this year, Gurman reiterated that he does not expect the Series 12 or Ultra 4 to have any major design changes compared to the current Series 11 and Ultra 3 models.
...
Apple's unusually timed announcement of new Mac mini and Mac Studio models this week was driven by unexpectedly strong enterprise appetite for AI hardware, according to The Information.
Apple normally releases new Mac models in the autumn, closer to October or November, making this week's announcement unusually early, falling just before the anticipated arrival of new iPhone models. The...
