• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Fintech.ca

Your Source for Canadian Fintech News

 
 
  • News
  • Thought Leaders
  • Interviews
  • Job Board
  • About

Apple Acquires Montreal-Based Startup Mobeewave

August 4, 2020 by Fintech Newsdesk Leave a Comment

Apple has reportedly acquired Montreal’s Mobeewave for US $100 million in a deal which could see iPhone’s turned into contactless payment terminals.

Mobeewave’s technology allows shoppers to tap their credit cards or smartphones on another phone to process a payment. Further, the system works with an app and doesn’t require hardware other than a Near Field Communications (NFC) chip. iPhones have included NFC chips since 2014.

The firm has agreements in place with National Bank of Canada, Australia’s Commonwealth Bank and Polskie Platnosci.

Mobeewave already has a contract in place to incorporate its technology into Samsung handsets. The Apple rival is also an investor in Mobeewave.

According to several reports, all Mobeewave employees will work for Apple out of Montreal.

“Apple buys smaller technology companies from time to time and we generally do not discuss our purpose or plans,” an Apple spokesman told Bloomberg.

Filed Under: News Tagged With: Mobeewave

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

 
 

Email Newsltter

LinkedIn
Twitter
Facebook
RSS

Founding Sponsors

Recent Posts

  • The 10 Best-Funded PropTech Startups in Canada
  • Q+A with Key Co-founder Daniel Dubois on Real Estate Co-ownership
  • Second-Annual Property Technology Report Highlights Health of Ecosystem in Canada
  • Canada Looks to Eradicate Legacy Payment Systems by Building the Real-Time Rail
  • The Future of Money – Key Takeaways For Modern Banking In Canada

Copyright © 2022 Incubate Ventures