Google rumored to buy NFC payment provider Softcard previously known as Isis

Jan 23, 2015 | Apps, News

Google is rumored to consider buying Softcard, previously known as Isis. The NFC payment provider previously named Isis changed its name after the Middle East Islamic State declared itself and ruined things for marketing purposes. Rumors point to an extremely low sale price though, as the weird ads didn’t help on promoting the app during its life either.

 

Isis softcard

 

Isis was started all the way back in 2010 as a joint venture of Verizon, T Mobile and AT&T. Google Wallet’s functionality in the department was depleted, as they don’t have a secure element on phones on these US carriers. After a few more years, Isis became available on a decent number of phones and in retail locations all over the US. Now Wallet and Isis are on the same unsuccessful position in the app world.

Isis/ Softcard has been through a tough patch lately as the company is said to have laid off many of its employees because of its $15 million losses per month. The purchase price Google pitched is said to be around $100 million, a great loss for carriers and their investments over the years.

Neither Google nor Softcard are commenting on the matter, but this is sort of the only chance Softcard has got to get out of this alive.

 

[googleplay url=”https://play.google.com/store/apps/details?id=com.isis.mclient.verizon.activity&hl=en”]

Source: Techcrunch