Items tagged with softcard
As you might have expected, Softcard is closing its mobile payment system at the end of the month and encouraging its users to switch to Google Wallet. Late last month, Google acquired Softcard's intellectual property relating to wireless payments as it ramps up its efforts to take on Apple Pay.Apple Watch“We are pleased to let you know that Google has acquired technology from Softcard to power the next generation of mobile wallets,” a statement on the Soft Card site reads. “What does this mean for you? As of 3/31 your Softcard app will no longer work. You can continue to use the Softcard app until 3/31. After that your Account will be closed. To keep using a digital wallet app download Google...
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Google may have been one of the first to bring a wireless, mobile payment system to modern smartphones using NFC technology, but it was Apple that made the technology surprisingly easy-to-use and widespread courtesy of Apple Pay and Touch ID. When it comes to contactless payment made using American Express, MasterCard, and Visa accounts, Apple Pay currently captures two out of every three dollars spent. “Apple Pay is off to a very strong start, and the feedback that we're getting from both individuals and institutions is extremely positive,” bragged Apple CEO Tim Cook during his company’s most recent earnings call. “With all of this momentum in the early days, we are more convinced than ever...
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As of right now, Google is pretty much sitting on the sidelines of the emerging mobile payment market while Apple and its Apple Pay system make headway. Ah, but maybe not for long -- it's being reported that Google has strong interest in acquiring Softcard, the mobile payments firm that was previously known as Isis. Citing un-named sources that are presumably "familiar with the situation," TechCrunch says the price might be under $100 million. If true, it would be a drop in the bucket for a company like Google, which raked in nearly $60 billion in revenue in 2013, and will likely report an even higher number for 2014 once all the figures are tallied....
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