Softcard is shutting down its mobile payments app after striking a deal to help bolster Google Wallet.
Google acquired the company’s mobile payments technology in a February deal that saw Softcard backers Verizon Wireless, AT&T and T-Mobile agree to load the Google Wallet app onto newer Android smartphones.
Softcard announced on Wednesday it will disable its mobile app and close all customer accounts on March 31st.
Verizon, AT&T and T-Mobile initially blocked Google Wallet from their Android phones in favour of Softcard, which launched nationwide in 2013.
Google also revealed a mobile payment service called Android Pay earlier this week, which will allow retailers to add a mobile payments function to their own apps.
Barclays has signed contracts with six of the fintech startups that just graduated from its second New York accelerator programme.
Company card killer Pleo has raised $3m in new funding as it prepares for public launch in the UK and Denmark.
Cheques are become less and less common in the UK according to new research from global market research firm Mintel which claims contactless card use has overtaken cheque payments in the UK for the first time.
Payments for digital and physical goods made mobile operating system-based payments platforms like Apple Pay and Android Pay are expected to boom in the next few years according to new analysis from Juniper.