Mobeewave domain now owned by Apple one year after acquisition

Posted:
in General Discussion edited July 2021
The ownership of Mobeewave.com has shifted to Apple, a sign that the year-ago acquisition has progressed internally.

Mobeewave was a startup seeking to bring NFC peer-to-peer payments to smartphones
Mobeewave is a startup seeking to bring NFC peer-to-peer payments to smartphones


Mobeewave is a startup seeking to make peer-to-peer payments easier by tapping NFC-enabled credit cards to the backs of smartphones. Apple acquired the company in August 2020, and that process seems to be moving forward.

First spotted by MacRumors, the domain name mobeewave.com is now under Apple's possession. The website's domain information now lists Apple's servers, but it isn't currently active.

Apple's acquisition of the company may have been for talent, patents, or both. However, Apple has not absorbed the company into its Cupertino offices, as Mobeewave continues operating in Montreal.

If the technology is implemented in Apple's iPhone, it may enable transactions between people without the need of a chip reader or other payment mechanism. However, such a feature could mean trouble for third-party payment systems like Square, which relies on hardware sales of payment terminals.

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Comments

  • Reply 1 of 7
    mike1mike1 Posts: 2,981member
    In addition to cards, it would be great to be able to tap phones and send/receive money without the need for Venmo or the like.
    Can have the funds go to/from either a predetermined debit card or the Apple Cash card.
    watto_cobra
  • Reply 2 of 7
    rbnetengrrbnetengr Posts: 69member
    That’s a different application. The funds transfer happens between financial institutions, even for transfers like Venmo. 

    For this application, the purchaser is merely giving the payment card info to the seller wirelessly (rather than via a chip or card swipe reader), and then the seller processes the transaction. 
    watto_cobra
  • Reply 3 of 7
    chadbagchadbag Posts: 1,669member
    No, Square doesn’t rely on sales of chip or otherwise enabled card reading terminals.  They used to give them away and I would guess they charge enough now to cover the cost.  Square makes its money on the fees charged to the merchant to process a transaction. 
    watto_cobra
  • Reply 4 of 7
    BeatsBeats Posts: 3,012member
    mike1 said:
    In addition to cards, it would be great to be able to tap phones and send/receive money without the need for Venmo or the like.
    Can have the funds go to/from either a predetermined debit card or the Apple Cash card.

    Tapping phones was a dumb Samsung “innovation” that they (as usual) abandoned.

    How is this idea better than Apple Cash?
    watto_cobra
  • Reply 5 of 7
    Beats said:
    Tapping phones was a dumb Samsung “innovation” that they (as usual) abandoned.

    How is this idea better than Apple Cash?
    Depends on your purpose of use. My dad was an artist who displayed his work at art shows and street fairs all over the place.

    Something like allowing users to tap phones (or do a wireless exchange within a foot or two) would allow vendors like him to accept that type of payment without needing to ask for a customer’s phone number or email (or revealing their own).

    I wouldn’t really want to give my phone number or email to every vendor that I’ve ever bought from, but would love to have more of them be able to accept payment from my phone or watch.
    watto_cobra
  • Reply 6 of 7
    mike1mike1 Posts: 2,981member
    Beats said:
    Tapping phones was a dumb Samsung “innovation” that they (as usual) abandoned.

    How is this idea better than Apple Cash?
    Depends on your purpose of use. My dad was an artist who displayed his work at art shows and street fairs all over the place.

    Something like allowing users to tap phones (or do a wireless exchange within a foot or two) would allow vendors like him to accept that type of payment without needing to ask for a customer’s phone number or email (or revealing their own).

    I wouldn’t really want to give my phone number or email to every vendor that I’ve ever bought from, but would love to have more of them be able to accept payment from my phone or watch.
    Agreed. Could work just like AirDrop, maybe call it CashDrop.

  • Reply 7 of 7
    mike1mike1 Posts: 2,981member
    Beats said:
    mike1 said:
    In addition to cards, it would be great to be able to tap phones and send/receive money without the need for Venmo or the like.
    Can have the funds go to/from either a predetermined debit card or the Apple Cash card.

    Tapping phones was a dumb Samsung “innovation” that they (as usual) abandoned.

    How is this idea better than Apple Cash?

    For starters, no sharing of personal info with strangers.
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