iPhones may soon be turned into payment terminals thanks to new acquisition

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Apple recently acquired Mobeewave, a company that possesses a payment technology that could turn iOS devices into payment terminals without the need for extra hardware.

Apple recently bought up Mobeewave, a Canadian company that owns technology that allows users to “tap their credit card or smartphone on another phone to process a payment.” Mobeewave’s technology doesn’t require Near Field Communications (NFC), which means that it can be rolled out without the need for any hardware tweaks.

Apple has the habit of acquiring many smaller businesses. So many, in fact, that the company has a standard announcement whenever it acquires a new company – “Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans.”

Apple’s acquisition of Mobeewave is said to be valued at $100 million and includes “dozens of employees”.

KitGuru Says: This seems like the next step to expanding Apple Pay and fending off rival services like Google Pay, Samsung Pay and others. Do you think we’ll see Mobeewave’s tech used in iPhones soon? 

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