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Updated: Friday, February 27, 2015

Google, Softcard open doors, close Windows

Google Inc.’s acquisition of Softcard, announced Feb. 23, 2015, ended four years of competition between the two companies’ mobile wallet divisions. Payments analysts expect Softcard’s intellectual properties to add value to Google Wallet and level the mobile wallet playing field.

Softcard, formed in 2010 by mobile networks AT&T Mobility, T-Mobile USA, and Verizon Wireless under the name Isis, marked a strategic shift for the competing cellular networks. Chief Executive Officer Michael Abbott described the venture as a four-sided market that included consumers, merchants, parent companies and mobile network carriers.

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