Google Wallet

Google has just announced that it has acquired "technology and intellectual property" from the online payments company Softcard. It has also revealed that its Google Wallet app will soon be pre-installed on Android devices sold by AT&T, Verizon Wireless and T-Mobile. The specific financial terms of these deals were not disclosed. Rumors about the Softcard acquisition were first reported in January.

Google stated that the technology they are acquiring from Softcard will be used "to make Google Wallet better" but didn't offer any details. A separate announcement from Softcard stated, "For now, Softcard customers can continue to tap and pay with the app. We will share more information with customers and partners in the coming weeks." It added, "Today's announcement is a positive step forward for the mobile payments industry and wireless consumers."

Source: Google, Softcard