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.

Top Rated Comments

(View all)
Avatar
2 weeks ago
Now this is huge. Surprised they have not implemented this sort of feature yet.
Score: 17 Votes (Like | Disagree)
Avatar
2 weeks ago
In the year 2525 (if man is still alive) Apple will add this feature to iOS 519.
Score: 13 Votes (Like | Disagree)
Avatar
2 weeks ago


In the year 2525 (if man is still alive) Apple will add this feature to iOS 519.

I see what you did there ;) Not too many Zager and Evans references on the MR Forums. Well played.
Score: 10 Votes (Like | Disagree)
Avatar
2 weeks ago
This is definitely big news. Hopefully, Apple can incorporate this kind of technology into the consumer side as well as the business side.
Score: 7 Votes (Like | Disagree)
Avatar
2 weeks ago
Tap 2 iPhones together to pay your friend. ?
Score: 6 Votes (Like | Disagree)
Avatar
2 weeks ago


Who the hell still uses physical credit cards?

At the many places that still don't take ApplePay or tap-to-pay in general, I would assume lots of people.
Score: 4 Votes (Like | Disagree)

Top Stories

Apple Takes Legal Action Against Small Company With Pear Logo

Saturday August 8, 2020 11:09 am PDT by
Apple is taking legal action against the developers of the app "Prepear" due to its logo, according to iPhone in Canada. Prepear is an app that helps users discover recipes, plan meals, make lists, and arrange grocery deliveries. The app is a spinoff of "Super Healthy Kids," and the founders claim that they are facing litigation from Apple. Apple reportedly takes issue with Prepear's logo, ...

Kuo: Global iPhone Shipments Could Decline Up to 30% If Apple Forced to Remove WeChat From App Store [Updated x2]

Sunday August 9, 2020 10:17 pm PDT by
In a worst-case scenario, Apple's annual global iPhone shipments could decline by 25–30% if it is forced to remove WeChat from its App Stores around the world, according to a new research note from analyst Ming-Chi Kuo viewed by MacRumors. The removal could occur due to a recent executive order aiming to ban U.S. transactions with WeChat and its parent company Tencent. Kuo lays out...

Google Maps Debuts New Apple Watch App and CarPlay Features

Monday August 10, 2020 9:16 am PDT by
Google today announced the launch of several features for Google Maps on Apple products, including new CarPlay functionality and a new Google Maps app that works on Apple Watch. The new Google Maps app for Apple Watch works similarly to the iOS app, allowing Apple Watch owners to get directions for a car, bike, public transit, or on foot. The app supports estimated arrival times and...

Foxconn Reportedly Begins Seasonal Hiring Spree for iPhone 12 Production

Monday August 10, 2020 7:03 am PDT by
Apple's largest manufacturing partner Foxconn has begun its seasonal hiring spree to assist with iPhone 12 production, offering employees who recruit qualified applicants up to a 9,000 yuan bonus, according to Chinese media reports. As usual, Foxconn needs as many hands on deck as possible at its factory in Zhengzhou, China to assist with mass production of the upcoming iPhones. Apple is...

Apple May Release 4G-Only iPhone 12 in Early 2021

Tuesday August 11, 2020 5:28 am PDT by
In a research note shared by Business Insider, Wedbush Securities analysts said that Apple may release a cheaper iPhone 12 in early 2021 with no 5G connectivity. Wedbush initially believed Apple would launch a mix of 4G and 5G iPhone 12 models this fall. Following re-examination of Asian supply chains, analysts Daniel Ives, Strecker Backe, and Ahmad Khalil revised the predictions,...

2020 iMac Teardown Reveals Internal Changes and Similarities

Saturday August 8, 2020 12:44 pm PDT by
A teardown video, shared by OWC, reveals the internal changes in the new 2020 27-inch iMac. The 2020 27-inch iMac was announced earlier this week with 10th-generation Intel Core processors, AMD Radeon Pro 5000 series graphics, up to 128GB of RAM, up to 8TB of storage, a 1080p front-facing FaceTime camera, a True Tone display with a nano-texture glass option, higher fidelity speakers, and...

Apple Believes This German Cycling Path Logo Infringes on Its Own Logo

Wednesday May 1, 2019 9:51 am PDT by
Apple recently objected to the logo of a new German cycling path in an appeal filed with the German Patent and Trademark Office, according to German outlets General-Anzeiger Bonn and Westdeutscher Rundfunk. Apple reportedly takes issue with the logo's green leaf and supposed "bitten" right side, attributes the company believes are too similar to its own logo. The logo, registered with the ...

Apple Seeds First Public Beta of watchOS 7 to Public Beta Testers

Monday August 10, 2020 10:33 am PDT by
Apple today seeded the first public beta of an upcoming watchOS 7 update to public beta testers, one week after seeding the fourth beta to developers and a month and a half after the Worldwide Developers Conference. The update can be downloaded after installing the proper profile from Apple's Public Beta website. watchOS 7 should not be installed on a primary device as it is still an early...

Apple Watch Likely to Adopt MicroLED Display Technology in 3-4 Years

Monday August 10, 2020 2:55 am PDT by
This year's Apple Watch Series 6 is expected to feature an OLED screen like previous models, but a future model is likely to be the first Apple product to adopt MicroLED display technology, albeit not for another three to four years. That's the main takeaway reading between the lines of comments made by the chairman of Epistar, Taiwan's top LED producer, which is reportedly working on a...

Apple Seeds iOS 14 and iPadOS 14 Public Beta 4 to Testers

Thursday August 6, 2020 10:05 am PDT by
Apple today seeded new public betas of upcoming iOS 14 and iPadOS 14 updates to its public beta testing group. Today's software releases, which Apple labels as fourth betas to keep them in line with developer betas, are actually the third betas that Apple has provided and they come two weeks after the prior beta releases. Public beta testers who have signed up for Apple's beta testing...