Small businesses might soon be able to accept payments using their phones. The feature could be added to the final version of the software in the next few months, according to the report. Apple has been working on the service since 2020, when it purchased a Canadian startup known for developing a technology that turns a phone into a payment portal.
Mobeewave's technology only requires an app and the phone's Near Field Communication to work, unlike services like Square that require the use of an external hardware. The user simply has to type in the amount they want to charge, and their customer only needs to tap their credit card onto the back of the device. It is not clear if the built-in iPhone feature will work, since Apple declined the invitation to comment.
The feature will not be rolled out as part of Apple Pay, according to sources. Since Apple purchased Mobeewave, the team developing the feature has been working with the payments division. It's not clear whether Apple is launching the service with an existing payment network or not.
Mobeewave collaborated with SAMSUNG to turn its phones into payment terminals. They piloted the feature in Canada and even gave the company's point-of-sale service a wide release in the country.
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