Google Wallet Partners With Softcard To Rival Apple Pay

Google Wallet is trying to challenge Apple Pay and it has taken a step further in that direction by partnering with Softcard - a joint venture between Verizon Wireless, AT&T and T-Mobile.

As part of the deal, Google acquired Softcard's technology, while the US carriers would load the Google Wallet app onto Android smartphones running KitKat or higher in their stores later this year, Cnet reported.

"So today, we're excited to announce that we're working with AT&T Mobility, T-Mobile USA and Verizon Wireless, as well as their mobile payments company Softcard, to help more Android users get the benefits of tap and pay. Under this relationship, the Google Wallet app, including the tap and pay functionality, will come pre-installed on Android phones (running KitKat or higher) sold by these carriers in the US later this year. We're also acquiring some exciting technology and intellectual property from Softcard to make Google Wallet better," Google announced in a blog post.

The announcement of the partnership comes amid heightened interest in mobile payments, thanks to Apple Pay.

Recently Samsung also acquired mobile-payment system startup LoopPay.

"From tap and pay to storing loyalty and gift cards to sending money to friends, we've been working hard to make the Google Wallet app even more useful to you -- and there's lots more to come," Google added.