Google Wallet, Softcard team up to take on Apple Pay

Davey Alba at WIRED:

Today Google said that U.S. wireless carriers AT&T, Verizon Wireless and T-Mobile will pre-install its Google Wallet payments app on Android phones sold by the carriers this year. In addition to the distribution deal, Google also acquired technology and intellectual property from Softcard (formerly known as Isis Mobile Wallet), a joint venture from those same wireless carriers. Softcard has been offering its own mobile payments tool since 2012, and this technology will now be rolled into upcoming versions of Google Wallet.

The success of Apple Pay has no doubt prompted this previously unlikely relationship. While this probably marks the end of Softcard as a standalone service, it puts Google Wallet in a much better position to compete with Apple Pay with major US carriers putting the app in front of more customers by default. 

Now, who's going to be first to take their mobile payments system global?

Sources: WIRED, Google, Softcard