Google Set To Improve Wallet With Acquisition Of Softcard Technology

Share the joy

Tech giant, Google is set to improve Wallet after it announced the acquisition of Softcard, a mobile payment app owned by Verizon, T-Mobile and AT&T. The deal with the three telecom giants will now see Google Wallet preinstalled on all Google Android devices in the US from later this year, according to The Next Web.

Google’s plan all along has been to provide a seamless “experience across a wide range of phones and stores,” and sees Monday’s announcement as part of plan to improve on Wallet, which allows users to make payment anywhere NFC is accepted. Google’s Vice President of Payments, Ariel Bardin, while announcing the deal, which also includes the acquisition of Softcard said:

“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.”

Google

Rumors of Google’s intention to acquire Softcard were rife before now. This appear to be slightly different from what we have heard as the company from today’s announcement shows that Google is only acquiring some of Softcard’s intellectual property, which the company has vowed will improve its Wallet.

Confirming the deal with Google, Softcard also provided an update on its website; directing its customers to tap and pay with the app. It also promised to share more information with customers and partners as the week progresses:

“Softcard has completed a deal with Google to bring together leading technologies to advance mobile wallets. Google has acquired Softcard technology and capabilities to power the next generation of mobile payments.”

Google Wallet’s tap and pay feature was introduced by the tech giant in 2011, and has grown significantly since then. The app, which can be used on all Android devices, also works on any carrier network. Google Wallet is acceptable to tap and pay anywhere NFC is accepted.

Softcard was founded by AT&T Mobility, T-Mobile USA and Verizon Wireless on 2010. It pioneered NFC-based mobile payments and commerce in the United States by providing merchants more options and consumers easier way to shop and pay for services with the use of their mobile phones.


Share the joy

Author: Ola Ric

Ola Ric is a professional tech writer. He has written and provided tons of published articles for professionals and private individuals. He is also a social commentator and analyst, with relevant experience in the use of social media services.

Share This Post On