Google acquires Softcard technology, Wallet to come preinstalled on additional phones

Google has just announced that they have acquired some “exciting technology and intellectual property” from mobile payment system Softcard (formerly Isis), the payment system built by AT&T, T-Mobile and Verizon. The acquisition will also allow for Google to preinstall the Wallet app on Android devices running KitKat or higher sold by those three carriers going forward. Google hasn’t specified whether or not all Android devices sold by the carriers will come with the app, so we’ll have to see what happens in the future. No details have been disclosed regarding the finances traded in this acquisition, but we’ll be sure to update you if any information surfaces.

Softcard mentions that customers can continue to tap and pay with the Softcard app, and that we’ll hear more information regarding new partners in the coming weeks.

In the past few days, we’ve heard rumors suggesting that the search giant would buy Softcard, and that a new Bluetooth-powered payment system is in the works. Additionally, Google was also rumored to launch a “revived” version of Wallet at Google I/O 2015, which will be held on May 28th-29th. According to the rumor, Google would bring together an “unruly coalition of device makers, wireless carriers, banks and payment networks.” So, it’s sure seeming like this rumor will come true, and that we will in fact see some big revisions come May.

So, what do you think? Are you okay with having a revised Google Wallet app come preinstalled on carrier phones?