Apple buys Payment transaction Company which change the transaction method in smartphone

Apple buys Payment transaction Company

Apple has acquired the payment technology company MobiWav. This company makes the technology to convert smartphones into payment terminals.

In the coming time, if the iPhone is used as a payment terminal, there will be no surprise. Apple has recently bought a company called MobiWav.

Talking about MobiWav, it is a payment technology-based startup that has created a way in which smartphones can be used as mobile payment terminals.

A Bloomberg report quoted sources as saying that Apple had bought the company for $ 100 million. With the company, Apple has also taken dozens of employees working here.

Now after this acquisition, it is being speculated that in the coming time the company can use this technology in its iPhones.

According to the report, Apple had said on this acquisition that the company keeps buying small technology companies from time to time, and generally, the company does not tell anyone about why the purchase was done.

As far as MobiWav technology is concerned, it uses NFC i.e. Near Field Communication for this method. Under this, users will be able to pay by tapping the credit or debit card on the smartphone instead of the POS machine.

According to the report, under this technology, transactions can also be done by bringing two smartphones to each other. At present, no detailed information has been received about this method, nor has Apple said that this technology will be used in future iPhones.

It is important to note that usually, big technology companies use technology in their products by acquiring technology-related startups. However, before this much work of research and development is also done.

For the past few years Apple has done a lot about digital transactions. Only last year, the company has also launched its credit card which is called Apple Card.

Looking at all these, it seems that the company can offer this feature in its future iPhones. Under this, Apple cards or other credit card users can tap and pay the direct card on iPhone without any device, and this POS machine will not be required.