Apple has its own payment solution called Apple Pay and it seems that Google is missing one badly. Therefore, it has been reported that Google is in talks with the mobile payment company Softcard, which was formerly operating under the name Isis.
According to sources familiar with the negotiations, the price might be in the range of $100 million which either reflects the difficulties Softcard is facing as a company or it appears that Google has managed a huge bargain.
Google and Softcard have not commented the news report. In fact Google 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.”
Softcard was created by big mobile carrier like T-Mobile, Verizon and AT&T as a single front for NFC payments and its app (not available for iPhone) supports more than 200,000 merchants in the United States.
The users of Softcard app can activate their Chase, American Express, Wells Fargo and cards of other banks and then pay from their phones.
One possible reason why Google is interested in Softcard is its patent portfolio which is numbered at 120.