Apple: iPhones could become payment terminals after the acquisition of a startup for US $ 100 million | Mobeewave

Apple has acquired a startup called Mobeewave, which developed technology to turn iPhones into payment terminals, according to a new Bloomberg report. Thanks to information from people familiar with the matter, the deal was closed for US $ 100 million.

The company confirmed the agreement with its standard statement on your acquisition strategy. “Apple buys smaller tech companies from time to time and we generally don’t discuss our purpose or plans. An Apple spokesperson told Bloomberg. However, the tech company did not confirm the reported acquisition price of $ 100 million.

Mobeewave claims that their technology is a way to seamlessly accept credit card payments “with a tap on your phone.” This means that a buyer can simply play their credit card or smartphone on the back of the payment recipient’s phone.

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This new feature could be a way for Apple to expand your Apple Pay platform and compete with Cuadrado’s point of sale platform. Also, Apple Card debuted last year, and Mobeewave’s technology could be integrated into that ecosystem, including the Apple Wallet app.

Apple has acquired several other startups this year so far, including the popular weather app. Dark sky in March. It appears to be integrating Dark Sky features into its native weather app on iOS 14. Apple also confirmed in May that it bought VR streaming company NextVR.

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