Google Buying Mobile Payments Company : SOFTCARD

Google Buying Mobile Payments Company : SOFTCARD

SoftCard, who previously ventured into the market with the name of ISIS but after that name made headlines for all the wrong reasons pertaining to the Islamic State of Iraq and Syria ISIS, the company revamped its name to SoftCard. The mobile payment service SoftCard is collaboration amongst the top mobile service providers AT&T Inc., Verizon Communications Inc. and T-Mobile US Inc. This service even has Windows and Android compatibility and also its users to make payments via various payment terminals. Google is in talks to buy mobile-payments company Softcard, technology news website TechCrunch reported on Friday, citing people familiar with the matter.

The deal could help pair Google with the largest U.S. wireless carriers to battle Apple Inc and its new Apple Pay service, TechCrunch wrote.

The deal may be valued below $100 million, the report said citing sources.

Softcard is jointly owned by AT&T Inc, Verizon Communication Inc’s Verizon Wireless Inc and T-Mobile US Inc.

Google was not immediately available for comment outside regular U.S. business hours.

“We do not comment on merger speculation,” said a Softcard representative.

It’s a good time to be a startup with a great idea, or actual great products. Companies are paying more attention and cash than ever to acquire new talent and technology to gain an upper hand in the cut-throat innovation-driven industry. Any one thing could be the next big cash cow and no one wants to miss out. Google along with Facebook, Yahoo and others was on a shopping spree last year.