Apple reportedly acquires startup that would flip iPhones into cost terminals

Illustration by Alex Castro / The Verge

Apple has acquired a startup with expertise that would flip iPhones into cell cost terminals, Bloomberg reported. Montreal-based Mobeewave has tech that requires solely an NFC chip to work, permitting customers to faucet both their smartphone or a bank card to a different telephone for cost processing. NFC chips have been included in iPhones since the iPhone 6. And whereas Apple Pay lets consumers faucet their iPhones to pay at a retail retailer, including Mobeewave might permit any iPhone to just accept funds with out additional {hardware} like a card reader.

In line with Bloomberg, Apple paid about $100 million for Mobeewave, and has retained its workforce of workers. Neither firm would touch upon the transaction. Rival telephone producer Samsung partnered with…

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