Apple Acquired Mobeewave, a Startup That Lets Smartphones Accept Payments Using NFC
Apple has purchased payments startup Mobeewave, which created a system that lets shoppers tap a credit card or smartphone on another phone to process a payment. The functionality could allow iPhones to be used as payment terminals with no additional hardware required.
According to Bloomberg, Apple purchased the startup for approximately $100 million. Mobeewave's technology works with NFC, which is built into all modern iPhones. Mobeewave's website says sending payments with the Mobeewave app is as simple as inputting a transaction amount and tapping an NFC-enabled card on the back of a smartphone.
Apple hired the whole Mobeewave team, which includes dozens of employees, and the company is continuing to work from Montreal where it is based. Apple confirmed the acquisition with its typical statement: "Apple buys smaller technology companies from time to time and we generally do not discuss our purpose or plans."
As Bloomberg points out, the acquisition has the potential to allow Apple to compete with companies like Square, which makes hardware that allows iPhone users to accept credit and debit card payments.
Popular Stories
While the iPhone 18 Pro and iPhone 18 Pro Max are not launching until September, there are already plenty of rumors about the devices.
It was initially reported that the iPhone 18 Pro models would have fully under-screen Face ID, with only a front camera visible in the top-left corner of the screen. However, the latest rumors indicate that only one Face ID component will be moved under the...
Apple CEO Tim Cook is stepping down as Apple's chief executive officer, and hardware engineering chief John Ternus is set to take over, Apple announced today.
Cook will continue on as Apple CEO through the summer, with Ternus set to join Apple's Board of Directors and take over as CEO on September 1, 2026. Cook is going to transition to executive chairman, and he will "assist with certain...
Apple is downgrading the planned specifications of the standard iPhone 18 to cut costs, a leaker claims.
In a new post on Weibo, the user known as "Fixed Focus Digital" said that the iPhone 18 features "certain manufacturing downgrades" that bring it more into line with the low-cost iPhone 18e model. The decision is said to be "a cost-cutting measure."
Apple has apparently chosen to...
