Google Might be Planning its Own Mobile Payment Solution
Apple’s Apple Pay mobile payment system was unveiled last year on the same day we saw the Apple Watch, iPhone 6 and iPhone 6 Plus for the first time. With Apple Pay all you need to do for paying at stores is bring your phone near the payment sensor, and that’s it, your payment is done. Apple Pay is available on both, the iPhone 6 as well as the iPhone 6 Plus.
Now it seems like Google is also looking to add the popular feature in its portfolio. NFC-based payment system is said to eliminate plastic money (credit cards) for hassle free payments. The Android maker is reportedly in talks to acquire Softcard, the a mobile payment company, and subsequently launch its own NFC-based payment system.
Softcard is a joint venture of Verizon, T-Mobile, and AT&T which has been going through a rough patch lately. Softcard earlier this month laid off about 60 employees and has been in a consolidation phase. According to TechCrunch, hundreds of millions of dollars apparently were sunk into the company by all three carriers.
Apple, right now, enjoys the monopoly of owning its own NFC-based payment system. Looks like we’ll have to wait a while to see Google’s retaliation.