Google Buying Softcard Mobile Payments?

Business / Mobile / Tech

The mobile payments space competition is heating up and companies are racing to get themselves in position to be the ones whose system consumers use. CurrentC, Softcard, Apple Pay, Google Wallet and Loop Pay are just a few of the current mobile payments available, and no one is the clear leader at this point. Now reports indicate that Google is looking to buy Softcard (formerly ISIS) which means a huge bolster to the company’s Google Wallet. It is reported that Softcard also holds around 120 patents that Google is interested in acquiring, so if this deal is indeed real you can bet Softcard will be absorbed into Google Wallet.

With acquisition talks currently underway between Softcard and Google, unidentified sources have disclosed that nearly 60 employees were laid off by Softcard last week, and the rest of the workers were asked to stop working, while the company sought a buyer.

With Apple now jumping into mobile payments, it seems Google might be defending the territory it has been in for some time now. There is still much to be done if we’re going to have a smooth and seamless mobile payments system. Merchants, banks and companies like Google and Apple all have to agree on a standard or just operate fragmented. 2015 is going to be the battle for mobile payments. Who do you think will gain the high ground? Let us know in the comments below or on Google+, Facebook and Twitter.

  Source: NYC News
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