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The Verge

Apple reportedly acquires startup that could turn iPhones into payment terminals


Apple has acquired a startup with technology that could turn iPhones into mobile payment terminals, Bloomberg reported. Montreal-based Mobeewave has tech that requires only an NFC chip to work, allowing users to tap either their smartphone or a credit card to another phone for payment processing. NFC chips have been included in iPhones since the iPhone 6. And while Apple Pay lets shoppers tap their iPhones to pay at a retail store, adding Mobeewave could allow any iPhone to accept payments without extra hardware like a card reader. Read More

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Engadget

Apple’s latest acquisition could turn iPhones into payment terminals


An Apple spokesperson didn’t confirm the acquisition outright, only giving the publication a standard response:

“Apple buys smaller technology companies from time to time and we generally do not discuss our purpose or plans.”

The tech giant did snap up a few smaller companies over the past months. Back in January, it purchased Seattle-based AI startup, Xnor.ai, which developed a way to operate AI on devices rather than in the cloud. It also purchased virtual reality startup NextVR, which is known for its partnerships with sports entities, such as the NBA. Read More