MOUNTAIN VIEW, Calif.—Google is rumored to be in talks to acquire Softcard to boost its digital wallet and compete against Apple Pay, reports Zacks.
The mobile-payments service Softcard, formerly known as Isis, was launched jointly by AT&T, Verizon Wireless, and T-Mobile USA in 2010 to battle Google Wallet, but saw little success.
Softcard claims that it can be used at over 200,000 merchants, including McDonalds and Subway. Softcard has an app which works both on Windows Phone and Android. It allows consumers to make payments through connected debit and credit cards from American Express, Chase, Wells Fargo and others banks.
Softcard recently laid off a number of workers and is reportedly looking for a buyer. Google recently entered exclusive discussions with Softcard by offering to buy the service for at least $50 million, Zacks reported.
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