There are reports surfacing that Google is interested to buy the mobile payment company, SoftCard and there are sources that state that the deal is very much likely to occur after Google stashed up $100 million for the mobile payment services.
SoftCard, who previously ventured into the market with the name of ISIS but after that name made headlines for all the wrong reasons pertaining to the Islamic State of Iraq and Syria ISIS, the company revamped its name to SoftCard. The mobile payment service SoftCard is a collaboration amongst the top mobile service providers AT&T Inc., Verizon Communications Inc. and T-Mobile US Inc. This service even has Windows and Android compatibility and also its users to make payments via various payment terminals.
Both Google and SoftCard have refused to comment on the ongoing deal.
A google spokesperson branded this as a rumor and said “We don’t have a comment, background, deep background, off-the-record steer, nod, wink or any other verbal or nonverbal response to these sorts of rumors.”
Presently the mobile payment service is accepted by more than 200,000 merchants in the U.S alone that also includes names of the likes of McDonald’s and Subway. Most financial institutions including American Express Company, Wells Fargo & Co along with several others are backing the service in the market.
Google also has its own mobile payment system, Google Wallet which was one of the first in the market, but in total honesty Google Wallet has failed to gather much users. And there are also reports that SoftCard also hasn’t done much better as well in recent times. Only last week, it axed 60 employees and the morale in the company is also at an all-time low.