Mobile payment is becoming more popular these days. A few years ago, Google started this trend by launching Google Wallet then last year, Apple launched Apple Pay. However, it seems like not many people know about Softcard. Like the other two services, Softcard is also a mobile payment application that based on NFC. It is established by AT&T, T-Mobile and Verizon which originally goes by the name ISIS in 2010.

With the news that Softcard has laid off about 60 employees as well as has been in a consolidation phase earlier this month, it seems like it is having a financial difficulties.  On top of that, another source was saying that at one point the company’s burn rate was around half a million dollars per day or around $15 million per month.

There is rumor that the sale price can be as low as below $100 million. It seems like Google is interested to buy the company for its patents. Paypal and Microsoft have reported to also approach the company. Another possibility could be that in the event that external sale cannot be achieved, JV (Joint Venture) partners like AT&T or Verizon will take it under one of their wings since they are also have been looking for ways of developing their own wallet service for mobile devices.

Pinterest