Apple buys startup that turns smartphones into mobile payments terminals

Apple recently purchased Mobeewave, a payments technology startup that developed technology capable of transforming an iPhone into a mobile payments terminal.Citing sources famliar with the matter, Bloomberg reports Apple paid approximately $100 million for Montreal-based Mobeewave and its “dozens” of employees. The team has been retained and continues to work out of its headquarters.Apple confirmed the purchase with its usual boilerplate statement, saying, “Apple buys smaller technology companies from time to time and we generally do not discuss our purpose or plans.”Read more…
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