Payment News

iPhones to Work with Contactless Payments

In 2020 Apple bought Mobeewave, a start-up working to enable contactless payments using smart phones. Bloomberg has reported that Apple will allow small businesses to use iPhones to accept payments ‘in the coming months’.

The advantage for businesses is that no extra hardware is needed, unlike Square’s solution.

Mobeewave had worked with Samsung in this area and trialled ‘Samsung POS’ in 2019 in Canada, allowing Samsung phones to accept payments from contactless cards and Apply Pay, Samsung Pay and Google Pay.

Diem Sold Off

The Wall Street Journal was first to report that the Diem Association is being wound down. It is selling its technology to Silvergate Capital Corp for about $200 million.

Diem started life as Libra in June 2019, with Facebook masterminding the business and concept. Policymakers and regulators were concerned about a social network with the user base of Facebook entering into e-commerce and global payments.