Softcard (formerly Isis Digital Wallet) is a joint venture between AT&T, T-Mobile and Verizon in the mobile Credit Card space, announced on November 16, 2010. The system is based on Near Field Communication NFC and allows users to pay by tapping their Mobile Device to a payment terminal.
Notably, Sprint is not part of the consortium. The CEO of Softcard is Mike Abbott. The Softcard mobile system has partnered with the Discover network and Barclaycard US.
On April 4, 2011, Isis announced it would pilot the Softcard mobile commerce program in Salt Lake City in early to mid-2012. On July 19, 2011, a partnership was announced between Isis, Visa, MasterCard, Discover, and American Express.
On August 29, 2011, the three wireless carriers announced plans to invest more than $100 million in the project.
On July 7, 2014, CEO Michael Abbott announced that they would be renaming the company in order to avoid association with the identically named militant terrorist group. The new name Softcard was announced on September 3, 2014, with newly branded apps to be rolled out in the subsequent weeks.Google Monday announced it reached an agreement with the Mobile Network Operators behind Softcard to acquire that Digital Wallet's technology and other capabilities to eventually integrate into Google Wallet.
Google's deal with AT&T, T-Mobile and Verizon solves the biggest problem the company faced with Mobile Payments: access. Those MNOs did not allow Google Wallet to be loaded or installed on its Android phones supposedly due to security concerns. Latter as Google Wallet began using HCE, they relented and allowed Google Wallet will be pre-installed on Android phones running the latest versions of the mobile Operating System (KitKat and higher).