US telco-owned mobile payments venture Softcard has confirmed that is shutting down after selling off technology and intellectual property to Google.
Google is attempting to revive its flagging mobile wallet service by getting its app pre-installed on handsets sold by America's biggest telcos. In addition, the firm is buying technology from its telco-owned rival, Softcard, which looks set to be killed off.
Google is in talks to buy US telco-owned mobile payments venture Softcard for between $50 million and $100 million, according to press reports.
Softcard, the mobile payments venture owned by America's leading telcos, is slashing jobs in a cost-cutting exercise but insists that it is not shutting up shop.
In the long shadow of Apple Pay, this week two major mobile money ventures, telco-backed Softcard and merchant-run MCX, have been setting out their strategies for wining over customers.
McDonald's customers in the United States now have another way to pay for their orders, thanks to a new collaboration with Softcard. Customers will now be able to tap and pay both in-restaurant and in the drive-thru lane at all US McDonald's locations, marking the largest deployment of NFC-based mobile commerce in drive-thru.
Two of the biggest pharmacy chains in the US have disabled NFC terminals in an attempt to shut out Apple Pay ahead of the launch of retailer-backed platform CurrentC in 2015.
USA Technologies, Inc. (NASDAQ: USAT), ("USAT"), a leader of wireless, cashless payment and M2M telemetry solutions for small-ticket, self-serve retailing industries, today announced a mobile payments, offers and loyalty program with Softcard™ designed for the multi-billion dollar commercial laundry market.
The US telco-backed Softcard consortium has received a welcome boost with news that the giant fast food chain Subway is to deploy its Card Rewards Program as part of a national roll-out of the SmartTap payment app.
When our company was founded, our vision was to develop a simple wallet app that consumers could use on any device, anywhere with any card.
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