Apple buys startup Mobeewave: iPhone as a payment terminal

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.