Google has reportedly acquired the mobile wallet company
Softcard. It has taken control of the technology and patent services of
Softcard. Google is reportedly supported by 3 of US’s biggest wireless carriers
and is supposedly going to take on Apple Pay.
Google had launched its Google Wallet in 2011 and is now
looking for a better alternative to attract the Apple Pay’s customers. As of
now Apply Pay controls two thirds of the mobile payments that are carried
across the US.
The plan will see Verizon Wireless, T-Mobile and AT&T
preinstall Google Wallet on their Android smartphone in the U.S. Google Wallet
permits customers to tap their phones to pay at checkout in some stores similar
to Apple Pay. The move likewise includes Google purchasing some protected patents
from Softcard, once known as Isis. However there is no news of Softcard
employees joining Google as of now.
The new Google-Softcard venture will roll out soon and
the Softcard clients can continue utilizing the tap-and-pay with the
application.
Samsung a week ago purchased widespread Mastercard
startup LoopPay, which utilizes a substitute innovation to NFC that provides
for it access to most terminals in the business. Samsung still needs to add a
couple of missing pieces to LoopPay ,however there's a decent possibility that we
may see the first Samsung payment application make a big appearance in the
Samsung Galaxy S6.
The enormous tech organizations appear assured that our smartphones
will be an alternative to our wallets in future. That could raise the stakes for
companies trying to attract customers. For Google, offering generally welcomed
portable payment system could persuade some Android phone authorities from
deserting to Apple. It likewise could give Google information on block
and-mortar exchanges, which still include the lion's share of all business and
could be utilized to better target promoting.