Credit card processing and business solutions company, Square reportedly accumulated an added funding $100 million, and has rejected the acquisition offer of Apple worth a whopping $3 billion.
TechCrunch reported that Apple and Square were recently engaged in an acquisition talks, but the negotiations went to naught en route Square turning down about $3 billion worth of acquisition offer from Apple. Square is estimated worth is 8 billion dollars.
During the talks Apple bared payments solutions that are similar with Square’s credit card-swiping system, which is built in the iPhone’s 3.5mm jack to converse with a set of third-party apps.
The details about the secret devices were still unraveled. Apple is set to launch the NFC-powered mobile payments Apple Pay in the coming days which is intended for iPhone 6 and iPhone 6 Plus.
Apple could have added another feather on its cap, no thanks to the bogged negotiation.
Former Square CEO Jack Dorsey believes the company business approach jibes well with Apple than Google, but unfortunately come companies negotiation talks fell apart.