NFC Times Exclusive Insight – UPDATED: Mobile point-of-sale device supplier Square has acquired payment processing component vendor Kili Technology, the same vendor that purchased NFC accessory vendor DeviceFidelity in November, but Square does not plan to keep DeviceFidelity, a source connected with Square told NFC Times.

That is not the understanding of Kili's chairman, Greg Wolfond, who, in response to a question from NFC Times, said that Square purchase of Kili “was really IP and the team; Kili Technologies Inc. will continue to operate, and DF (DeviceFidelity) will continue as a subsidiary." DeviceFidelity had technology for turning smartphones and tablets into contactless POS devices that Kili wanted.

UPDATE: But when questioned again, the source connected with Square, who asked not to be named, told NFC Times he stands by his earlier statement that DeviceFidelity “will not become part of Square and will operate once again as an independent company, no longer owned by either Kili or Square.”