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Apple buys startup that turns smartphones into mobile payments terminals

Apple recently purchased Mobeewave, a payments technology startup that developed a method by which smartphones like iPhone can be used as mobile payments terminals.Citing sources familiar 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 a boilerplate statement, saying, “Apple buys smaller technology companies from time to time and we generally do not discuss our purpose or plans.” Read more…
Source: Apple Insider News and Secrets on New Apple Products

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