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Apple Acquired Mobeewave, a Startup That Lets Smartphones Accept Payments Using NFC
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The technology mobeewave developed is patented. $100 million now or a % later... Apple sells enough iPhones that “now” is the better option. Especially since many iPhones won’t end up using the feature but would need to pay licensing fees regardless.
Because as we all know, "files" are as heavily regulated as the payment industry.
Now we're talking ... reminds me of the Bump app from a decade ago. I always thought it was a pretty cool app to exchange some info, wouldn't mind having that technology brought back - unless something like this is already out there and I'm living under a rock.
NFC-based credit cards and payment systems already exist. It's not clear from the article if this company offers anything new or not.
This is what Apple needs for payments in US restaurants.
Server prints QR Code receipt. Scan with camera, click pay. This is a solution.
Server prints QR Code receipt. Scan with camera, click pay. This is a solution.
Lame.
Better: nfc tag in table. Tap phone on tag, App Clip loads, sends tag identifier to server and puts up amount due on screen. Double click to apple pay.
No need to print anything. No need to scan qR code.
No, not surprising at all. Apple most of the time isn’t the first to implement anything. They weren’t the first to implement facial recognition, dark mode or a smaller interface for accepting or declining incoming calls just to mention a few examples. This particular feature, receiving contactless payments using the smartphone, Samsung has had it as part of Samsung Pay for a while now.
I think they want to compete against Samsung in this case. Samsung has had something like that as part of Samsung Pay for a while.
No it’ll be soon. But it will certainly take them that long to launch apple pay in India or Mexico.
I doubt it. They haven’t even launched apple pay in any of those countries (examples: Mexico, India, Thailand).
It will allow more locations to accept tap to pay without the need tu purchase additional hardware. It won’t necessarily eliminate the middle man, as the usual networks will still be used to approve payments.
Only between Apple users. This would allow to receive payments from users of other platforms or even with physical cards.You can already send money through the messages app?
Send and receive money with Apple Cash - Apple Support
Use Apple Cash to send and receive money with people you know.support.apple.com
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Or even better, someone could pay you even by just tapping their contactless card.
Even at places taking tap to pay a lot of people use contactless cards. Especially in Europe,
They basically eliminate the need to use a dedicated card reader by using the NFC from the phone to read cards instead.
We’ve been paying with apple pay at restaurants for years, even in countries where apple pay isn’t officially supported, thanks to wireless card readers. All this while american restaurant owners stupidly keep breaking their heads to find some other solution because they simply have been refusing all this time and still refuse to bring payment to the tables.
It's not a good solution for US because most cards here do not have NFC. This might be the only reason why other companies don't bother with this. Square reader accepts both NFC and EMV payments and costs $49. Until all cards support NFC, the vendors will need such readers.
That's my point. If they can provide an inexpensive way for merchants to offer NFC in places that haven't already fully gone QR, it makes it easier to get banks on board.
That’s not the problem in developing nations. Most of the payment terminals already in use in those countries do have NFC built in, they just have it switched off via software. The main reason why Apple Pay hasn’t expanded to those countries is that the local banks are very unwilling to pay Apple’s fees. And Apple usually does not negotiate. Apple just lays out their conditions and if the other party doesn’t agree 100%, then there is simply no deal.
Yes, ideally the transaction occurs between the two devices with no middleman processor. Upon completing the transaction your phone syncs with your bank account in the cloud to update your account value. Very clean and efficient, but needs payment limits in case of robbery and money laundering.