Google Inc in acquisition discussion with mobile-payments company Softcard: reports
17 Jan 2015
Google Inc is in acquisition talks with mobile-payments company Softcard, reports said quoting technology news website TechCrunch yesterday, which cited people familiar with the matter.
If a deal were to materialise, Softcard could help boost the search giant's Google Wallet
According to TechCrunch, the deal could help pair Google with the largest US wireless carriers to battle Apple Inc and its new Apple Pay service.
The report added the deal might be valued below $100 million.
One source told TechCrunch that people at Softcard had a limited view on what was going on.
He added, the whole place had been in a complete depression for at least six to eight months, to the point where people were not coming to work, and were being told since December to take it easy through the end of the year.
In general, it was not a culture with a lot of transparency, so a lot of people were thinking the worst was at hand, the source added.
Formerly Isis Mobile Wallet, the company changed its name in September last year to avoid being associated with the jihad terror group.
It started as a mobile payment joint venture between AT&T, T-Mobile and Verizon, employing near-field communication to let users pay by tapping their mobile device to a payment terminal.
In 2011 the company announced plans to pilot the Softcard mobile commerce program, in partnership with Visa, MasterCard, Discover, and American Express.