Pay with iPhone – this is now possible in most shops. However, there remain gaps that Apple’s acquisition could fill.
Apple acquired Montreal startup Mobeewave for an estimated $ 100 million, Bloomberg reports. Mobeewave has developed a technology that turns smartphones into mobile payment terminals. Apart from the NFC technology built into the devices, no additional hardware is required to pay by bank card or smartphone with an NFC chip. The technology would be an interesting and useful extension for Apple Pay and would enable contactless payments in far more places than before. But Apple never reveals anything about concrete plans for the occasional takeover of smaller companies. Mobeewae with its dozen employees is said to continue operating from Montreal.
Apple has only made the usual meaningless statement to the business intelligence service, the information comes from a source not mentioned by name that knows about the processes.
Apple introduced Apple Pay in 2014, all iPhones built since then, starting with the iPhone 5S, have NFC chips on board and are therefore compatible with the payment system. In Germany there has been Apple Pay since the end of 2018, the first at the end of 2019 the savings banks, which have only recently added the Girocard to the wallet – not all payment terminals accept the credit card in the wallet as a means of payment. Volks- und Raiffeisenbanken still offer Apple Pay only with a credit card.
Apple will probably integrate Mobeewave’s technology into Apple Pay sooner or later, the only question is in which countries and under what conditions. Apple Pay Cash, the ability to exchange money via messages (iMessages), is still not available in Germany.
With the technology acquired from Mobeewave and integrated into Apple Pay, Apple would compete with manufacturers such as Square Inc., which offer payment terminals for smartphones and tablets. Samsung already invested around $ 20 million in the startup last year through its investment branch and enabled the use of the technology on its smartphones. (Macworld)