If latest scuttlebutt from Silicon Valley is to be believed then Google is reportedly thinking about buying a payments service. Its not like this would be a completely new area for Google, the company has its own similar services, but adding the NFC payment provider now known as Softcard to its list might be beneficial down the line.
Those who haven’t heard about the payments service called Softcard might remember it by its former name. It was originally called Isis, before the whole Middle East business mandated a name change, so the folks behind it renamed their payments service to Softcard so as to not be confused with an organization that’s on a murderous rampage.
According to TechCrunch’s sources the price may be below $100 million. That’s not much for a service that was started with investment worth hundreds of millions of dollars by Verizon, AT&T and T-Mobile. There have been multiple reports detailing the difficulties Softcard has faced in taking off and that just might be a reason why it wouldn’t fetch a high price.
When contacted about the rumors of a possible acquisition by the scribe Google declined to comment. Softcard wouldn’t comment on these rumors as well but did confirm layoffs across the company as it is “taking steps to reduce costs and strengthen its business.”