Apple may be setting up to compete with Square’s contactless payments

MediacityAdmin
Apple may be setting up to compete with Square's contactless payments

Is Apple preparing to take on the mobile payment company, Square, Inc.? A recent purchase suggests as much.

Apple has reportedly acquired Mobeewave, a Montreal-based tech startup that empowers tap-based payments. It works like this: a vendor with the app installed can turn their near-field communication-equipped (NFC) smartphone or tablet into a contactless payment terminal.

So unlike Square, which depends on a card reader for payments, Mobeewave’s technology can accept payments from NFC-equipped cards and smartphones with a tap. Apple’s iPhones, notably, have come packing NFC tech since 2014. Read more…

More about Apple, Square, Contactless Payments, Tech, and Innovations

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