Apple Buys Startup to Challenge Square in Mobile Payments
Apple (NASDAQ: AAPL) has reportedly acquired a Canadian start-up with technology that could be used to turn every iPhone into a contactless payment acceptance device, directly challenging Square (NYSE: SQ), which is the leading provider of mobile payment hardware and software.
Bloomberg says Apple is paying $100 million to buy Mobeewave, a maker of tech that allows mobile devices to accept in-person payments without additional hardware.
Image source: Mobeewave.
Source Fool.com
