Tag: nfc technology

Google may be showing interest in mobile payments firm Softcard

| January 22, 2015

Rumors suggest that Google may be looking to buy Softcard

Google may be in negotiations to acquire Softcard, the mobile payments firm that had once been known as Isis. Rumors suggest that Google may be looking to purchase Softcard for some $100 million, but neither company has confirmed this speculation or denied that negotiations are taking place. Google has a strong interest in mobile payments, having a payment platform of its own that has found modest success. The company has been working to establish a stronger foothold in the mobile commerce space in order to compete with others therein.

Softcard hit by layoffs during restructuring effort to become more efficient

Earlier in the month, Softcard laid off 60 of its employees during a consolidation phase. The company is taking steps to reduce the costs that it is exposed to in order to strengthen its business position. The layoffs were part of a larger restructuring of the company, which involves simplifying its organizational structure in order to be more efficient. This is not an uncommon practice in the business world, especially when it comes to the turbulent mobile payments industry.

Company helps 200,000 merchants accept NFC-based mobile payments from Android and Windows Phone devices

Mobile Payments - GoogleSoftcard exists as a way for large organizations to embrace mobile consumers with NFC-enabled devices. The firm offers NFC-based payment systems, which allow companies to accept transactions being made with mobile devices that are using NFC technology. Softcard claims that more than 200,000 merchants in the United States are making use of this service, as well as the Softcard application, which is available for both Windows Phone and Andorid.

Other companies show potential interest in the acquisition of Softcard

Google may not be the only company that is interested in Softcard. Rumors suggest that both PayPal and Microsoft have approached the company concerning potential acquisition. None of these companies have confirmed that these rumors are true, however. In Google’s case, the company is adamant in not acknowledging such rumors, apart from noting that it does not confirm rumors about its business operations.

Mobile payments may go mainstream in 2015

| January 20, 2015

Deloitte report suggests that mobile payments will become a mainstream success this year

This year, mobile payments may experience strong growth, even becoming mainstream in some parts of the world. According to a report from Deloitte, a global professional services firm, mobile payments is expected to see phenomenal growth in 2015. In-store mobile transactions, in particular, will experience global growth, as more retailers begin to use mobile point-of-sale systems in order to engage mobile consumers more effectively.

In-store mobile transactions expected to grow by more than 1,000%

According to the report, global in-store mobile payments will grow by more than 1,000% this year. An estimated 10% of all smartphones throughout the world will be used to make a mobile transaction in a physical store at least once a month. Last year, less than half of these devices were used to make mobile payments in stores. Retailers are embracing new payment services in order to connect with a growing audience of mobile consumers. These people are beginning to heavily rely on their mobile devices in their daily lives, and their interest in mobile shopping has been growing aggressively over the past several years.

Mainstream acceptance of mobile commerce may be possible

Mobile Payments could become mainstreamIn 2015, many of the prerequisites needed for mobile payments to go mainstream are expected to be satisfied. Financial institutions are expected to become more comfortable with mobile transactions and the safety of new mobile services, encouraging their support for this growing sector. Merchants are expected to place more focus on the mobile space, embracing new payment services that are becoming popular with consumers. The growing number of NFC-enabled mobile devices is also making it easier for consumers to participate in mobile commerce.

Security remains a major challenge for the growing mobile commerce industry

There are still challenges that the mobile payments space must overcome. One of the most significant of these challenges is security. Because mobile commerce deals in the trafficking of financial information, it has become a popular target for those that would exploit this financial information. As such, security is becoming a major priority for firms that offer mobile payment services.