Apple purchased Mobeewave for $100 million and many people are wondering what this means for Apple. While no insider information looking at this logically there is only a few reasons Apple could have bought this technology.
To start with Apple Pay has been something Apple has invested a lot of time and money into and Mobeewave allows you to accept credit cards by just the touch of a card on the back of your phone. Mobeewave not only has this technology but they can handle point of sale services.
Apple for years has been out of that POS business losing business to Squareup, Quickbooks, PayPal, and many others already in the space. With Apple’s new push into the services business, Mobeewave might be a way of Apple getting another revenue stream that few percent credit card processors take for running a credit card transaction.
Apple already has Apple Pay this would be a perfect addition to that service. With Apple already large userbase I think this would be a quick way of Apple getting more revenue by building this service into Apple pay and starting edge out others.
Many people use iPhones and iPads to take credit cards using third party apps this would be a perfect space for Apple to get into and push out third party competitors. I do think Apple has to be careful as they are already under scrutiny for anti-competitive practices and this might make things even worse for them. I do feel that this is the perfect space for Apple to get into being they are very security conscious I think many people would trust them in the credit card transaction space. This would allow the ability as well to take credit cards for those that do not have Apple Pay like Android users or those running small side businesses.