Softcard, a mobile payments company developed by the largest wireless carriers in the country is on the selling block now.
Reports claimed that to purchase Softcard, Google has made an offer of an amount less than $100 million, meanwhile, PayPal, the e-commerce giant owned by eBay, has also submitted an offer to acquire Softcard. The move would help Google fend off Apple’s growing mobile payments market share, while allowing it to overcome some competition and hurdles it currently faces.
Just after the high profile launch of Apple Pay, the talks came out. Apple’s mobile wallet initiative has gained the interest of merchants, banks and credit card companies around the world.
It has not immediately cleared yet that what Google or PayPal would do with Softcard.
According to a Google spokesperson, “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”.
It is pertinent to mention here that Softcard’s mobile app, which is available on both iOS and Android smartphones, allows customers to pay for items at more than 200,000 stores across the United States with a wave of their mobile device.
Softcard, since its inception failed to gain widespread traction with consumers.