Apple has been betting for many years on having within its ecosystem everything that makes up its activity. The idea is to remove third parties from your action and this is seen in terms of software, hardware and services. Now it is precisely here that the company wants to add something to get “others” out of the middle. That is, the Apple Pay payment system is very profitable, secure and important to the company’s strategy, but it has devices, payment terminals, which Apple has to pay to use. This is where Mobeewave and the iPhone come in.
According to what is now being made known, the Cupertino company will have acquired the startup for 100 million dollars, which will bring an innovation to the payments operation.
Turn an iPhone into a payment terminal
The company Mobeewave developed technology to transform iPhones into mobile payment terminals. The Cupertino giant confirmed the deal in a brief statement where he spoke of his strategy for this acquisition.
Apple buys smaller technology companies from time to time and we generally don't discuss our purposes or plans.
An Apple spokesman referred to Bloomberg. Despite this confirmation, the company said nothing about the purchase price.
How does Mobeewave technology work?
The idea seems simple and will bring more usability to the Apple ecosystem when it comes to payments. Thus, Mobeewave will allow a company, when charging a payment, to use an iPhone to accept credit card payments using just “a touch on the phone”.
What this means is that a buyer can simply tap their credit card or smartphone on the back of the smartphone to process a payment. The system works through a Mobeewave application, as well as NFC technology.
The demo on the Moobeewave website shows the process in three steps:
- 1. insert the amount of the transaction;
- 2nd touch with the customer's card on the back of your device;
- 3. Payment is processed on your device.
There are several ways in which the apple company can incorporate this technology into the iPhone or other products. As you can easily see, this feature can be a way for Apple to expand its Apple Play platform. In addition, you can enter other areas, such as the point of sale platforms area (in the USA there is a strong company in this area, Square).
Enhance the use of the Apple Card
We must not forget that Apple last year made an important investment. The Cupertino company launched the Apple Card. Thus, with Mobeewave technology, you can integrate into this ecosystem, including the Apple Wallet application.
News of the acquisition of Mobeewave follows Tim Cook's statements. This spoke about Apple's strategy to acquire other companies. In an effort to differentiate the apple company from other technology companies, which buy potential competitors to wipe out competition, Cook emphasized that Apple acquires a company to eventually implement its technology on the iPhone.
However, it should be noted that Samsung partnered with Mobeewave last year to allow its phones to use the technology.