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Apple To Rival Square By Turning iPhones Into Payment Terminals

Financial Express Mumbai

|

January 28, 2022

APPLE IS PLANNING a new service that will let small businesses accept payments directly on their iPhones without any extra hardware, according to people with knowledge of the matter.

Apple To Rival Square By Turning iPhones Into Payment Terminals

The company has been working on the new feature since around 2020, when it paid about $100 million for a Canadian startup called Mobeewave that developed technology for smartphones to accept payments with the tap of a credit card. The system will likely use the iPhone's near field communications, or NFC, chip that is currently used for Apple Pay.

In order to accept payments on an iPhone today, merchants need to use payment terminals that plug in or communicate with the phone via Bluetooth. The upcoming feature will instead turn the iPhone into a payment terminal, letting users such as food trucks and hairstylists accept payments with the tap of a credit card or another iPhone onto the back of their device.

Financial Express Mumbai からのその他のストーリー

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UP power regulator withholds nod to ~16,700-cr Adani deal

THE UTTAR PRADESH power regulator has delayed approval of a power supply deal with Adani Group’s new $2-billion (approximately ₹16,700 crore) coal power project over lack of clarity around costs, a filing showed on Wednesday, six months after the announcement.

time to read

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November 20, 2025

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SpiceJet cuts ₹442-cr debt after allotting shares to Carlyle

SPICEJET ON WEDNESDAY said it has completed the allotment of equity shares to global aircraft leasing and financing firm Carlyle Aviation Partners, a move that has helped the airline reduce its liabilities by ₹442.25 crore and strengthen its longterm financial position.

time to read

1 min

November 20, 2025

Financial Express Mumbai

Pre-Budget meet: NBFCs seek refinancing support, tax relief

INAPRE-BUDGET meeting with Nirmala Finance Minister Sitharaman on Wednesday, nonbank finance companies (NBFCs) sought a dedicated National Housing Bank-like refinance window and reduction of SARFAESI enforcement threshold to 1 lakh.

time to read

1 mins

November 20, 2025

Financial Express Mumbai

AI eyes China military airspace to cut costs

Airline urges govt to convince Beijing for route clearance as Pakistan remains out of bounds

time to read

3 mins

November 20, 2025

Financial Express Mumbai

Sensex tops 85,000 after over a year

Nifty ends above 26,000; investors gain ₹1.12 lakh cr

time to read

2 mins

November 20, 2025

Financial Express Mumbai

Ola, Ather step up focus spare parts, software

ELECTRIC TWO-WHEELER FIRMS LOOK TO BOOST MARGINS, REVENUE

time to read

2 mins

November 20, 2025

Financial Express Mumbai

Gearing up for a privacy-first regime

PHASED DPDP ROLLOUT GIVES STARTUPS THE LEEWAY TO ADAPT

time to read

3 mins

November 20, 2025

Financial Express Mumbai

Banks seek more leeway in acquisition financing

BANKS HAVE FLAGGED several restrictions in the Reserve Bank of India’s acquisition financing guidelines that they believe will limit their participation in the merger and acquisition (M&A) space.

time to read

2 mins

November 20, 2025

Financial Express Mumbai

India's AI future ecosystem hinges on home-grown models

INDIA'S AI ECOSYSTEM may be expanding at a reasonably fast pace, but the technology community feels that progress without inclusion could deepen inequality.

time to read

2 mins

November 20, 2025

Financial Express Mumbai

The future lies in teamwork

AI IS UNDENIABLY transforming the way we work, but the true revolution isn't about machines replacing humans-it's about how we collaborate with them. Across industries, the best-performing business operations leveraging AI are not simply implementing new tools but investing in skills, encouraging cross-functionality, and leaning into a culture of experimentation. Ultimately, AI innovation is, and will always be, a human story.

time to read

2 mins

November 20, 2025

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