The company has been developing the feature since it bought Montreal-based Mobeewave for about US$100 million in July 2020 to help it build the capability. (Bloomberg)
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The company has been developing the feature since it bought Montreal-based Mobeewave for about US$100 million in July 2020 to help it build the capability. (Bloomberg)
Talking point: The new service could be bad news for Square, whose payment terminals are often connected to Apple products, and Montreal-based Lightspeed, which has a competing point-of-sale product. Shares in Square and Lightspeed were respectively down about five and six per cent Thursday. The feature would reportedly allow iPhone users to accept credit-card payments directly by tapping on the back of their device. The service, which could be announced in the coming months, comes as Apple expands its payments business. One of its upcoming products, for example, is a buy-now, pay-later service it is developing with Goldman Sachs, Bloomberg reported last year.
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