Apple does it again!

and Reconcile continues to gain momentum!

Hey everyone, happy Tuesday! I came down with a bug over the weekend so I wanted to remind everyone that feeling sick sucks! Hope everyone is continuing to stay safe and healthy.

Reconcile Updates of the Week

  • As you know, we’re a voice-first product, which our early beta users have been excited about! We want to know other voice features that you would like to use. So could you take this quick 4 question survey to offer your thoughts? We’ll throw your ideas onto our product roadmap if enough of you help us out!

  • We’ve also added a new product designer onto the team! She’s led product design at another major fintech company and will help revamp our voice and mobile experiences! If you want to share your current problems, let me know and I’ll connect ya!

  • We’re also onboarding a front-end developer and content intern onto the team! If you want to join us, we could use another content intern and an NLP engineer!

  • We’ve grown our waitlist and newsletter by 10% in the last week! Thanks for all the continued support.

Fintech News of the Week

Maybe not news just yet, but a really interesting rumor. Apple has supposedly acquired Mobeewave, an NFC-enabled point of sale platform, which turns any phone into a POS terminal with just an app.

This is a big deal for a couple of reasons:

  1. Apple is entering the SMB merchant acquiring business going head to head with Square. With Mobeewave, Apple can turn its Wallet app into a terminal, which is way easier to use and set up than Square’s dongle.

  2. Apple gets to diversify its revenue stream with merchant acquiring fees. By facilitating the transaction between the customer and merchant banks, it can carve out a small fee, typically between 1-3%.

  3. Independent creators now have another payment option readily available at all times. By processing payments on the device, creators can easily pull their phones out whenever they want to make a sale. Instead of relying on P2P apps, like Venmo, or physical cash, they can simply tap a customer’s card onto their phone and finish the transaction in seconds.

Nik Milanovic, my go-to fintech thought leader, shared an interesting thread about this acquisition.

Apple’s payments strategy becomes more evident with this news. With the introduction of the Apple Card, it gave iPhone users a beautiful card and PFM app to make mobile payments. Remember the Apple Card was directly added to your mobile wallet as soon as you were approved, and it offered additional rewards for mobile payments. Now, Apple has effectively unlocked the other side of the market, the merchants accepting mobile payments. Therefore, Apple can now own the entire end-to-end experience!

Thanks for reading!

Jaimin Desai - CEO & Co-Founder of Reconcile

*P.S. If you have any thoughts on our content, please leave a comment or email me at!