Softcard pulls out of mobile payments race after Google deal

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.

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