By Mark Gurman

MagicCube is mentioned in an article focused on Apple’s tap-to-pay announcement and entrance into the payment acceptance market.

“MagicCube Inc. Chief Executive Officer Sam Shawki, whose company makes similar technology to Apple’s new service, is hopeful he will be able to use the iPhone NFC chip for his own offering. 

MagicCube’s service lets third-party apps accept tap-to-pay credit cards. So far, that system only works on Android because of the closed nature of the iPhone’s hardware. 

‘In payments, open solutions work,’ he said. ‘We’d love if everyone would be open. Can you imagine if you were a merchant and your system would only work with an iPhone or Android?.’”  

To read the article, click here.