Technology
Apple Buys Startup to Challenge Square in Mobile Payments – The Motley Fool
Mobeewave’s technology could transform every iPhone into a mobile payment terminal.
Apple(NASDAQ:AAPL) has reportedly acquired a Canadian start-up with technology that could be used to turn every iPhone into a contactless payment acceptance device, directly challenging Square(NYSE:SQ), which is the leading provider of mobile payment hardware and software.
Bloomberg says Apple is paying $100 million to buy Mobeewave, a maker of tech that allows mobile devices to accept in-person payments without additional hardware.
Image source: Mobeewave.
Once the Mobeewave app is installed…
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