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Apple acquires startup with technology that turns iPhones into payment terminals

By Cookie Monster - on 1 Aug 2020, 10:23am

Apple acquires startup with technology that turns iPhones into payment terminals

Image source: Mobeewave

Apple is expanding its mobile payment service with the acquisition of Mobeewave.

According to Bloomberg, Apple bought the startup for about $100 million. The startup had dozens of employees and the entire team has been retained by Apple. 

Mobeewave's technology does not require dongles, cables or extra hardware to work. It works with an app and the device needs to have NFC. Consumers can tap their credit card or phone on another phone to make payments.

Source: Bloomberg

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