Google has officially acquired, mobile payment solution company Softcard following reports last month. Softcard is backed by Verizon, AT&T, and T-Mobile. Financial terms of the deal were not disclosed.
As a result of the acquisition, U.S. wireless carriers AT&T, Verizon Wireless and T-Mobile will pre-install its Google Wallet payments app on Android phones running KitKat or higher. Prior to this Google Wallet had limited availability and only Sprint officially supported the service. Similar to Apple Play, Google Wallet allows users to pay at checkouts by tapping their phones in some brick-and-mortar stores.
Adding all the major carriers, as well as Softcard, will let more Android owners take advantage of Google’s tap-and-pay system. Softcard confirmed the acquisition in a company blog and stated that customers “can continue to tap and pay with the app”. It promised to “share more information with customers and partners in the coming weeks,” which suggests changes are coming. Earlier this week, it was reported that Google is testing a mobile payment service dubbed as ‘Plaso’.