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Apple reportedly acquires startup that could turn iPhones into payment terminals

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

Apple reportedly acquires startup that would flip iPhones into cost terminals

Apple has acquired a startup with expertise that would flip iPhones into cell cost terminals, Bloomberg reported. Montreal-based Mobeewave has tech that requires solely an NFC chip to work, permitting customers to faucet both their smartphone or a bank card to a different cellphone for cost processing. NFC chips have been included in iPhones because the iPhone 6. And whereas Apple Pay lets consumers faucet their iPhones to pay at a retail retailer, including Mobeewave might enable any iPhone to just accept funds with out additional {hardware} like a card reader.

In line with Bloomberg, Apple paid about $100 million for Mobeewave, and has retained its staff of staff. Neither firm would touch upon the transaction. Rival cellphone producer Samsung partnered with Mobeewave final 12 months on a pilot point-of-sale program in Canada. And as Bloomberg notes, Samsung’s enterprise division is an investor in Mobeewave.

Apple has acquired a number of different startups this 12 months thus far, together with standard climate app Darkish Sky in March. It seems to be integrating Darkish Sky’s options into its native climate app in iOS 14 and has shut down the Android model of the Darkish Sky app as of August 1st. Apple additionally confirmed in Could that it purchased VR broadcast firm NextVR.

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