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Google could be looking to acquire Softcard: Rumor

Softcard Logo

A new report suggests that Google could be interested in the acquisition of Softcard, which is a mobile payments company. Previously known as Isis, the service is available on devices that are sold by Verizon, AT&T as well as T-Mobile. Neither carrier has responded to these new reports.

A Google spokesman said – “We don’t have a comment, background, deep background, off the record steer, nod, wink or any other verbal or non-verbal response to these sorts of rumors.”

If true, this is an understandable move from Google as Apple Pay begins to gain traction among carriers in the U.S. The acquisition of Softcard would give Google a direct entry into the wireless payments industry as Softcard is already involved with carriers.

While there’s no official word on how much Google is looking to spend on the company, it is being reported that Google’s bid was somewhere close to $50 million. The original valuation of Softcard was said to be somewhere close to $100 million. It is being said that PayPal is also interested in purchasing Softbank although it has decided to remain mum on the matter.

Via: Fierce Wireless