Google Is In Talks With Softcard, The Mobile Payments Company

"Apple has Apple Pay, and now it looks like Google may be fattening up its own wallet. According to people familiar with the situation, the search giant and maker of Android is interested in buying Softcard, the mobile payments company formerly known as Isis."

The price may be under $100 million, according to our sources.

That is either a huge bargain or a testament to Softcard’s difficulties as an enterprise: sources tell us that AT&T, Verizon and T-Mobile (the three carriers that started Isis in 2010) have collectively invested hundreds of millions of dollars in the joint venture.

Softcard earlier this month laid off about 60 employees and has been in a consolidation phase.

The company would not comment on the M&A rumors or how much has been invested in the operation but provided a comment about the layoffs.

Read more: “Softcard is taking steps to reduce costs and strengthen its business. This includes simplifying the company’s organizational structure and consolidating all operations into its Dallas and New York offices, which involves layoffs across the company,”