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Home / Technology / According to reports, Apple has acquired a startup that can turn the iPhone into a payment terminal

According to reports, Apple has acquired a startup that can turn the iPhone into a payment terminal



Apple has acquired a technology startup company that can turn the iPhone into a mobile payment terminal. Bloomberg report. Montreal-based Mobeewave has a technology that only requires an NFC chip to work, allowing users to tap their smartphone or credit card on another phone for payment processing. Starting from iPhone 6, the NFC chip has been included in the iPhone. Although Apple Pay allows shoppers to tap the iPhone to make payments in retail stores, Mobeewave can make any iPhone accept payments without the need for additional hardware such as card readers.

according to Bloomberg, Apple paid about $1

00 million for Mobeewave and retained its team of employees. Neither company will comment on this transaction. Competitor mobile phone maker Samsung partnered with Mobeewave last year to conduct a pilot point-of-sale program in Canada. And as Bloomberg Note that Samsung’s risk department is an investor in Mobeewave.

So far, Apple has acquired several other startups this year, including the popular weather app “Dark Sky” in March. It seems to be integrating Dark Sky’s functionality into its native weather app in iOS 14, and it has closed the Android version of the Dark Sky app from August 1. Apple also confirmed in May that it had acquired VR broadcaster NextVR.


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