Jan 16 AT 6:31 PM Alex Wagner 3 Comments

Google may be interested in acquiring Softcard

softcardlogo

Remember Softcard? We haven’t heard much about the mobile payments service since it gave itself a name change, but today the company is in the news thanks to Google.

According to a report from TechCrunch, Google is in talks regarding an acquisition of Softcard in order to acquire its patents. The price for the company is said to be less than $100 million, which is relatively affordable for a large company like Google. Unsurprisingly, neither Google nor Softcard commented on today’s rumor.

Softcard has been kicking around since late 2010, when it was formed by AT&T, T-Mobile, and Verizon. It eventually went into limited trials and then launched to the public. However, the service has yet to really gain traction with consumers, and it’s said that Softcard is burning around $15 million per month. That could make Softcard a nice, cheap acquisition for Google, which could then use it to give Google Wallet a nice boost. This is all a rumor for now, though, so we’ll just have to wait and see how things play out.

Have you ever used Softcard?

Source: TechCrunch

Editorial Director of News and Content for PhoneDog Media. Fluent in whisk(e)y, video games and phones. Can be followed on Twitter at @alw.

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  • Boyd

    I tried to use its predecessor, Isis, a couple of years ago, but there weren’t many places I frequented that used the Isis technology. One that claimed to be an Isis company here in Austin is Whataburger, but when I tried to use it, it didn’t work, and the cashier looked at me funny and said, “I’ve never seen anyone try to use that before.”

    Let’s just say I was underwhelmed.

    • Luke D

      Softcard is big in the churning community, so I am interested to see how this might impact the manufactured spending process to utilize Google Wallet or if it it will affect it at all.

  • TruFactz

    Google SHOULD buy it. They aren’t doing anything with it if it’s burning through 15Mil/mo.