Google has acquired its rival Softcard (formerly ISIS), a tap-and-pay mobile app joint venture by AT&T Mobility, T-Mobile USA and Verizon Wireless. Softcard has pioneered NFC-based mobile payments and commerce in the U.S. by offering merchants more options and consumers a safer, simpler way to shop, pay and save using mobile phones.
Ariel Bardin, Vice President of Payments in Google has posted in a blog post that "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."
Meanwhile, Techcrunch speculates the deal to be worth under $100 million, citing their sources.
