Apple has acquired Mobeewave, a start-up that creates technology that allows you to pay by placing a credit card on a smartphone. It appears to have paid $ 100 million for the ‘pin app’.
Apple acquires Mobeewave
Bloomberg News discovered this. The acquisition has since been confirmed by Apple itself. As usual, the Cupertino company is tight-lipped on how and why. So we don’t know what Apple is planning with Mobeewave.
The company makes technology that allows phones to transfer amounts to each other by holding them together. Payment is also possible by holding your credit card on the back of a smartphone. Mobeewave uses NFC technology for this. Since the iPhone 6, all Apple phones have such a chip.
Mobeewave also makes an app. The company mainly focuses on (small) shops and private sellers, because thanks to their technology you do not need a separate pin device to do business. It is still unclear whether the Mobeewave app will continue to exist.
What Apple might need Mobeewave for
What Apple will do with the technology is unknown. The iPhone maker may use Mobeewave’s services to extend the technology of Apple Pay, its own payment service.
It is also possible that Apple will use Mobeewave for Apple Card. This payment card is not available in the Netherlands, but is rumored to be released in Europe soon . Apple Card is not only a credit card for making purchases, but also a ‘household booklet’. The app shows what you have spent money on recently.
Apple and acquisitions
Apple regularly takes over smaller companies. Recent examples include Dark Sky, a weather app, and Voysis, a company that works on the technology of digital voice assistants such as Siri.
At last week’s Congressional hearing, CEO Tim Cook indicated that Apple never makes acquisitions to eliminate competition. Instead, people are interested in the workforce and their developed products, Cook said.
Source: Bloomberg News