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Moovweb preps for Apple Pay in browser with $10M investment

Moovweb, which specializes in mobile and online checkout, has announced plans to optimize its platform for Apple Pay’s rumored debut on mobile web, according to a company press release.

Apple is expected to announce its plans Monday at its annual software developers' conference.

"The shopping cart abandonment rates on mobile web are disastrous," said Ajay Kapur, CEO and founder of Moovweb. "Mobile's inherently short sessions paired with the frustration of manually entering credit card information causes businesses to lose a staggering number of customers at the final stage of the path to purchase. With Apple Pay's impending expansion into mobile web, we expect to see a whole new era of mobile shopping."

Moovweb said in the announcement it is investing $10 million into its own platform as it preps for Apple's expected announcement.