Google Wallet Acquires Softcard for an Undisclosed Sum
Just when you thought there were enough mobile payment options (i.e. Apple Pay, Samsung Pay), Google made a smart move to absorb one. According to Google and Softcard, Google acquired Softcard technology (owned by AT&T, T-Mobile, and Verizon) to increase its mobile payment footprint of its Google Wallet application in late February. The figures of the deal have yet to be released, but Google says it’s excited to add AT&T Mobility, T-Mobile, and Verizon Wireless to its mobile payment portfolio, as Softcard currently comes standard with smartphones on these carriers.
Google Wallet will now replace Softcard’s app on these companies’ devices, while embedding Softcard technology into their own. In addition, Softcard’s own app will be decommissioned at the end of March.
For full details, head down below for Google’s press release or Soft Card’s here.
Tap, tap. Who’s there? Google Wallet and Softcard!
We first introduced Google Wallet’s tap and pay feature in 2011, and since then, mobile payments have grown rapidly. You can use the Google Wallet app on Android devices, on any carrier network, to tap and pay anywhere NFC is accepted. Over the years, we’ve received great feedback from people who use this feature and we’ve continued investing to make it easy and secure for more people to pay with their phones.
A big part of this is working with other innovators in the industry to help provide a seamless experience across a wide range of phones and stores.So today, we’re excited to announce that we’re working with AT&T Mobility, T-Mobile USA and Verizon Wireless, as well as their mobile payments company Softcard, to help more Android users get the benefits of tap and pay.
Under this relationship, the Google Wallet app, including the tap and pay functionality, will come pre-installed on Android phones (running KitKat or higher) sold by these carriers in the US later this year. We’re also acquiring some exciting technology and intellectual property from Softcard to make Google Wallet better.From tap and pay to storing loyalty and gift cards to sending money to friends, we’ve been working hard to make the Google Wallet app even more useful to you — and there’s lots more to come.Posted by Ariel Bardin, Vice President of Payments