Apple Buys Mobile Startup Mobeewave for $100M To Enable Tap and Go Payments

Apple Buys Mobile Startup Mobeewave for $100M To Enable Tap and Go Payments

Mobeewave  turns smartphones into mobile payments terminals. The perfect technology app for merchants to get paid due in the current  state of the COVID-19 pandemic. “Apple buys smaller technology companies from time to time and we generally do not discuss our purpose or plans.” They said in a statement.

Square Inc (NYSE: SQ) is a competitor run my Jack Dorsey. Square uses hardware where  Mobeewave’s technology makes us of NFC communications that enables users to conduct payments by tapping their  credit card on a smartphone.

Mobeewave raised $26.6M in funding over 4 rounds. Their latest funding raised on Jan 28, 2019 was  from a Series B round from Samsung Ventures for $3.5 million.

Apple Inc. NASDAQ:AAPL opened up in the market today at  $432.80. Apple has a  forward dividend & yield 3.28 (0.77%). Ex-Dividend Date -Aug 07, 2020.

In other news, Apple may split ‘iPhone 12’ release into two phases. According to Apply Insider, “Apple will release its 6.1-inch “iPhone 12” models first, with the others following later.” Apple may launch its 5G iPhones in two stages,” infers Digitimes, “with two 6.1-inch models in the first and another 6.7- and 5.4-inch devices in the second.” Source Apple Insider

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Image Source: Thanks to Julian O’hayon for sharing their work on Unsplash.

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