Home News Google to acquire mobile payments company Softcard

Google to acquire mobile payments company Softcard


Google Inc (NASDAQ: GOOGL) is reportedly going through a discussion that may lead towards an acquisition of mobile payments company Softcard. Numerous online reports of yesterday speculated the possibility that Google will be buying Softcard, considering people familiar with this deal.

The attempt could help Google to proceed with of some of the largest wireless carriers in U.S. Google has always been trying hard to give tough competition to Apple Inc and its new Apple Pay service, reports state.

AT&T Inc, Verizon Communication Inc’s Verizon Wireless Inc, and T-Mobile US Inc jointly own Softcard. Google was not promptly available for input outside regular U.S. business hours. The deal may be esteemed underneath $100 million; the report said referring to sources.

Both Google and Softcard declined to comment on the possible sale. “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,” a Google spokesperson said.

Paypal, a standout amongst the best payments companies, was sold to eBay in 2002 for $1.5 billion. From that point forward, companies large and small, running from Amazon to Facebook to the startup Square have all attempted to turn into a go-to service for payments, especially on the Web.