We have a new report coming in, that Google is already in the talks to acquire the American Wallet company, named as SoftCard. The previous name of the service was Isis. The report is coming in via Techcrunch. And according to them, the deal would be closed for an amount of about $100 Million.
The services was created in collaboration with AT&T, T-Mobile and Verizon. The service uses NFC as a mobile payment, but it did not really take off well. Then the company last year changed their name, as it was conflicting with the famous terrorist organization. Already Google has it’s own service, named as Google Wallet.
So Google is seeking to bring it’s competitors down by acquiring them. So if this deals is successful, Google Wallet will close one more competitor. Also things would be good in the perspective of SoftCard, as they only have about 60 employees.
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