Why Block's Apple News Juiced Its Stock Price Today

In a meeting of two giant minds in the fintech and big tech industries, Block (NYSE: SQ) and Apple (NASDAQ: AAPL) are collaborating on a new offering. Thursday morning, Block announced the initiative, and bullish investors bid the stock up by almost 7% in reaction.

Block and Apple are working together to bring the latter's Tap to Pay functionality, currently an option on its popular iDevices, to Block's Point of Sale app. Once implemented, this will allow holders of those devices to use them for contactless payments on Block terminals housing the app.

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Source Fool.com