iPhone contactless payment system is coming. According to a Bloomberg report, small businesses will be able to accept payments without the need for Square-style extra hardware within the next several months. Apple purchased contactless payment startup Mobeewave in 2020, and Bloomberg now says it will come with a software update “within the next few months.”
Mobeewave has previously collaborated with Samsung on similar NFC functionality, trialing a system called Samsung POS in Canada as a startup in 2019 before rolling it out worldwide. Samsung POS lets users use their Samsung phones to pay for things directly using contactless cards and other NFC payment systems like Apple Pay, Samsung Pay, and Google Pay.
It’s unclear whether Mobeewave’s technology will be branded as part of the Apple Pay service or if Apple will utilize its own payment system, according to Bloomberg. Since the acquisition, Mobeewave employees have been working for Apple in the payment department.
