The internet search giant, Google is said to be in acquisition talks with internet mobile payment company, Softcard, with plans on offering about $100 million for the deal, according to CNBC. A spokesman at Google however declined to comment on this latest venture.
Concurrently, Paypal the other e-payment company is also seeking to buy Softcard, a joint-venture initiative founded in 2010 by Verizon, AT&T and T mobile. according to an individual who requested anonymity and as reported by BITS.
Such aggressive moves into the e-payment world comes at the heel of Apple’s mobile initiative that have garnered much interest from collaboration with banks, merchants and credit card companies around the globe. Apple Pay which was introduced last year with their I-Phone6, have piqued the interest of other e-commerce giants in this latest frontier of e-payments.
“With Apple pay picking up in popularity and PayPal going solo later this year every major tech company is rethinking their mobile payments strategy,” said a banker who is apparently not involved in the deal. “We are likely to see a lot of M&A activity in this space.”
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