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Apple acquires softPOS firm Mobeewave

Apple acquires softPOS firm Mobeewave

Apple has reportedly acquired Canadian SoftPOS company Mobeewave in a deal which could see iPhone's turned into contactless payment terminals.

Montreal-based Mobeewave lets users accept contactless payments with just their phones, without the need for any external hardware. The firm has agreements in place with National Bank of Canada, Australia's Commonwealth Bank and Polskie Platnosci.

According to reports from Bloomberg, Apple shelled out $100 million for the company. The deal would add an extra inducement for sole traders to switch to Apple, providing a means to accept card payments without the need to acquire a separate card reader from the likes of Square and iZettle.

Mobeewave already has a contract in place to incorporate its technology into Samsung handsets. The Apple rival is also an investor in Mobeewave.

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