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apple-mobeewave

Canadian company Mobeewave has been purchased by Apple for $100 million, giving the tech giant’s existing iPhones the ability to function as contactless, mobile pay hubs. Mobeewave is an app that doesn’t require cables or other hardware; the NFP chip that makes it work has been incorporated in iPhones since 2014.

CardLinx Insight:

This deal puts Apple firmly in the payments space, complementing Apple Pay and its credit card Apple Card—and directly competing with Square. Mobeewave eliminates friction in the payments process with a tap by the card on the phone. The acquisition gives Apple instant advantage, making it easier for consumers and sole proprietors/small retailers to make and take payments, while increasing iPhone ROI.

 

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