Apple CEO Tim Cook. Photo credit: Apple

Apple has acquired Mobeewave, a payments startup that develops technology that transforms smartphones into payment terminals, as first reported [paywall] by Bloomberg. According to Bloomberg, Apple paid about $100 million for the startup, which as a standalone company raised $27 million in private funding. Notable investors in the company include MasterCard and Samsung Ventures.

Mobeewave is actually based out of Montreal, Canada, where it’ll continue to operate from, as reported by Bloomberg. The company is known to have less than 100 employees in total. Apple usually keeps its acquisitions tight-lipped so it shouldn’t be surprising that a Mobeewave acquisition wasn’t formally announced. Presumably, Apple is looking to integrate Mobeewave’s technology to turn iPhones into payment terminals. Its competitor, Samsung, has already done so, having partnered with and invested in Mobeewave. With Apple’s acquisition, it’s unclear if the technology will for long be permitted on Android phones.

Mobeewave’s acquisition is the latest for Apple, which has acquired a handful of startups in this year alone. Startups acquired by the iPhone maker this year include the likes of Dark Sky, the weather app; VR company NextVR; Xnor.ai; Voysis; and Inductiv.