Google has purchased the technology and intellectual property from Softcard, a mobile payment service owned jointly by Verizon, T-Mobile and AT&T. The acquisition was rumored for months, so there is no real surprise, but the transfer will bring changes to the future of Softcard.
Google says that for now, the Softcard for Android app will work, and users can continue to tap and pay at over 275,000 locations in the states. However in the future is plans to transition SoftCard users over to Google Wallet, by shutting down the Softcard app and terminating Softcard wallets.
However, the transition to Google Wallet from Softcard won't be automated. Users will instead have to re enter their personal information into Google Wallet. On top of that, once your Softcard wallet is terminated, loyalty cards cannot be used.
Additionally Google also plans to stop supporting Softcard for Windows Phone. On its FAQ page, the company claims that it will terminate Windows support at a date which will be disclosed in future.
Recent reports suggest that Google may be preparing to introduce Android Pay at the upcoming Google I/O. Android Pay will work as an API for developers, separate from Google Wallet allowing them to add their own mobile payments option to their apps.
source - Softcard | WindowsCentral | Arstechnica