Block and Apple are collaborating on a new offering in a meeting of giants. Bullish investors bid the stock up by over 7% after Block announced the initiative.
Block and Apple are working together to bring the latter's tap to pay feature to Block's Point of Sale app. This will allow holders of those devices to use them for payments with the app.
The image came from the same source as the one above.
The financial terms of this collaboration were not provided by Block. In it's announcement, it said that.
This builds on Square's powerful software which helps sellers drive more business with marketing and loyalty programs; easily track and manage product inventory; and even simplify their cash flow with business banking tools that provide them instant access to their Square sales.
Apple's iPhone is the most popular phone in the US, according to data from several research companies. According to Counterpoint Research, the tech giant's familiar device comprised more than half of all smartphones shipped in the US last year.
Block is always looking for ways to make it easier for customers to transact with it. It's encouraging that Block is trying to get the attention of iPhone owners, as they now make up a large portion of the American economy.
Eric Volkman has positions in Apple. The Motley Fool has positions in and recommends Apple and Block, Inc. The Motley Fool recommends the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on Apple. The Motley Fool has a disclosure policy. score=31.25>There are positions in Apple. The Fool has positions in Apple and Block. There's a disclosure policy at the Motley Fool.
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