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?