What if small business owners could accept contactless credit card payments with just a smartphone in their pocket without the need for an additional device like the Square Reader? Montreal financial startup Mobeewave came up with the answer with its own mPOS (mobile point of sale) solution. The company collaborated with Samsung on pilot testing of its solution in Canada. The test appears to have gone very well, and now the technology could soon allow iPhone owners to accept contactless credit card payments directly on them.
Samsung and Mobeewave launched a pilot program for Samsung POS in Canada in the summer of 2019. Over 10 merchants and small businesses can use their phone Galaxy downloaded the Samsung Pay Touch app, allowing them to accept card payments without the need for an additional device. The Korean tech giant believed in the company enough to invest in it through its Samsung Ventures division.
Samsung POS supported debit and credit cards, Apple Pay, Google Pay and Samsung Pay. This technology allowed Samsung phones to also serve as POS terminals for small business owners. Anyone who wanted to receive contactless payments had only to download the aforementioned application and register as a merchant.
In 2020, it was announced that the Mobeewave company was bought by Apple. Now Bloomberg has come up with the news that the Cupertino giant will soon allow small businesses to accept payments on iPhonech without the need for additional hardware. Specifically, it said that the feature could be made available via a software update in supported ones iPhonech in the coming months.
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