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Google in Talks to Snap up Softcard

04 February 2015

Editor's note: Google is reportedly in talks to acquire Softcard, a mobile payment technology company.


As mentioned in a previous IHS analyst insight (see "Is Softcard drinking in the last chance saloon"), Softcard had been struggling to gain any traction in the electronic wallet market. The wallet market is getting very competitive with new entrants entering in late 2014 and early 2015. Softcard’s market is getting very cramped as ApplePay launched in calendar Q4 2014, PayPal Here will add in Windows support and contactless connectivity in Q1 2015, and the MCX consortium of U.S. retailers will launch CurrentC at some point in the future.

Softcard was developed by the major mobile network operators (MNO) – T-Mobile, AT&T and Verizon coming together to counter Google Wallet. Selling to Google implies that the MNOs do believe that the system is in terminal decline. Another suggestion is that the MNOs are so terrified by the Apple situation, that they are willing to lose the battle to win the war.

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