Apple acquired Mobeewave

Apple announced the acquisition of Mobeewave, a Canadian company with a solution that makes any phone a POS with just an app. 

That means Apple will go down the value chain and make it as easy to add merchants as it made adding consumers via their cards. The goal is to become the important connecting link managing the relationship between merchants and consumers to process identity, loyalty, rebates, rewards and coupons. 

And, why not, create a business layer on top of it, a la App Store, and take a 30% cut.

Square in US and iZettle (owned by PayPal) in Europe are some top of mind providers in the space and which will likely collide with Apple.

Apple allegedly paid $100 million for the acquisition - also interestingly, Mobeewave raised money from Samsung and Mastercard, about $25 million in total.

No comments yet