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Apple to Rival Square by Turning iPhones Into Payment Terminals

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3 years ago

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Apple to Rival Square by Turning iPhones Into Payment Terminals

Apple is planning to launch a new service that will allow small businesses to accept payments directly on iPhones without any additional hardware, according to people familiar with the matter.

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 smartphone technology that could accept payments via credit cards. The system will likely use the iPhone’s near-field communication or NFC chip currently used for Apple Pay.

In order to accept payments on today’s iPhones, merchants need to use payment terminals that plug into or communicate with the phone via Bluetooth. An upcoming feature will turn the iPhone into a payment terminal, allowing users like food trucks and hair stylists to accept payments simply by tapping a credit card or another iPhone on the back of the device.
The move could affect payment providers that rely on Apple’s iPhone to boost sales, such as market-dominant Block Inc.’s Square. If Apple allows any app to use the new technology, Square could continue to accept payments through Apple devices without having to worry about supplying its own hardware. If Apple requires merchants to use Apple Pay or its own payment processing system, that could compete directly with Square. A representative for Block did not immediately respond to a request for comment.

Shares of Block were down less than 1% in premarket trading in New York on Thursday; Apple was up less than 1%.
It’s unclear if the payment acceptance option will be marked as part of Apple Pay, although the team working on the feature has been working on Apple’s payments division since the Mobeewave acquisition, the people said. It’s also unknown if Apple intends to partner with existing payment networks to use the feature or launch it separately.

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Apple could roll out the feature via a software update in the coming months, the people said. The company expects to release the first beta version of iOS 15.4 in the near future, with the final version available to consumers as early as spring. An Apple spokesman declined to comment.

That would bring the debut closer to some other announcements; according to Bloomberg, Apple plans to launch a 5G-enabled iPhone SE and iPad Air as early as March or April, in addition to a new Mac running Apple’s custom processor.

Complete News Source : Bloomberg

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Hollywood

Tom Holland to star alongside Matt Damon in Christopher Nolan’s next, will juggle that with Spider-Man 4 in 2025

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2 weeks ago

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October 22, 2024

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Tom Holland to star alongside Matt Damon in Christopher Nolan’s next, will juggle that with Spider-Man 4 in 2025

Tom Holland, last seen in Apple TV show The Crowded Room last year, has signed his next with Academy Award-winning filmmaker Christopher Nolan.

Tom Holland is going to have a very busy 2025. As per The Hollywood Reporter, the actor has signed Christopher Nolan’s next, which he will juggle the filming of with that of the long-awaited Spider-Man 4. (Also Read – Tom Holland shares why he left alcohol behind: ‘Struggling without booze…’)

Tom signs Nolan’s next

This will mark the first collaboration between Tom and Christopher. While details of his next directorial aren’t known yet, it’s most likely not to have a contemporary setting. It’ll be either set in the past like, his previous film Oppenheimer (2023), or in the future like Interstellar (2014). Matt Damon, who has worked with Christopher in both, has also come on board his next.

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Christopher’s next will be co-produced by him and his wife Emma Thomas’ banner Syncopy Inc and Universal Pictures, as the two production houses will team up after the Academy Award-winning blockbuster Oppenheimer last year. Prior to Oppenheimer, Christopher collaborated mostly with Warner Bros before having a fallout post the debacle of Tenet (2020).

Warner Bros then went on to produce Greta Gerwig’s musical satire Barbie, which clashed with Oppenheimer at the box office and even outperformed it globally. Warner Bros offered Christopher a cheque for the fees he waived off for helming Tenet during the pandemic. While Christopher graciously accepted the belated remuneration, he still went on to pitch his next to Warner Bros.

Tom’s busy schedule

Tom didn’t have any release this year. His last outing was Todd Graff’s psychological thriller show The Crowded Room on Apple TV last year. He’ll juggle the filming of Christopher Nolan’s next and Spider-Man 4 in 2025. Tom has been playing the superhero ever since Russo Brothers’ 2016 blockbuster Captain America: Civil War. He’s slipped into the Peter Parker shoes post that for three standalone films and two Avengers movies. Spider-Man 4 will be helmed by Shang-Chi and the Legend of the Ten Rings director Destin Daniel Cretton.

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As Tom’s girlfriend and co-star Zendaya will be busy filming Spider-Man 4 in 2025, she’ll reprise her role of Chani in Denis Villeneuve’s sci-fi spectacle Dune 3 only in 2026. Meanwhile, Tom is also likely to make an appearance as Spider-Man in Russo Brothers’ Avengers: Doomsday, which will go on floors in the spring of 2025.

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