Apple acquires payments startup for $ 100 million: report

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Apple Pay made its debut in September 2014.

Angela Lang / CNET

Apple has acquired Mobeewave, a startup whose technology could be aimed at improving the use of Apple Pay.

According to a Bloomberg report, the apple company has paid US $ 100 million for the Canadian company, whose technology uses the NFC chip in iPhones to turn them into payment devices (such as a dataphone). In addition to the amount paid, Apple would have hired the entire team of the company made up of dozens of people and all of them will continue to work from Montreal, where the company’s headquarters are located.

Apple has not confirmed the news, but a spokesperson told the source that “Apple buys smaller tech companies from time to time and we generally don’t discuss our purpose or plans.” It is unknown what the specific intentions of Apple with this purchase are, but they could be related to the possibility of integrating the option to receive payments in Apple Pay. Currently Apple Pay only allows payments.

Apple has a strong history of buying startups whose technologies it would integrate into its own products. The company bought the autonomous driving startup Drive.ai in June 2019, although for now there is no clear date on when Apple could officially present its autonomous cars. In December of the same year, Apple acquired a startup focused on the development of artificial intelligence and its application to photography. This purchase points as a possible investment to improve the quality of photographic equipment on their cell phones.

Apple does not respond to requests for comment on reports.


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