| Softcard | |
| Formerly | Isis Wallet |
| Company type | Private |
| Industry | Mobile Commerce |
| Founded | November 16, 2010 (2010-11-16) inNew York City,New York |
| Founder | AT&T Mobility,T-Mobile USA andVerizon Wireless |
| Defunct | March 31, 2015 (2015-03-31) |
| Fate | Assets acquired byGoogle |
| Successors | Google Wallet Android Pay |
| Headquarters | , United States |
Area served | United States, Worldwide |
Key people | Michael Abbott (CEO) |
| Services | Mobile commerce |
| Owner | |
| Website | gosoftcard.com |
JVL Ventures, LLCd/b/aSoftcard (formerlyIsis Mobile Wallet), was a joint venture betweenAT&T,T-Mobile andVerizon which produced amobile payments platform known asSoftcard, which usednear-field communication (NFC) technology to allow users to pay for items at stores and restaurants withcredit anddebit card credentials stored on theirsmartphones. The partnership was first announced on November 16, 2010; following a trial period in 2012, the service officially launched nationwide on November 14, 2013. The official Softcardapp was available for NFC-compatible smartphones using theAndroid operating system and later onWindows Phone 8.1.
On February 23, 2015, it was announced thatGoogle—which had developed a competing system known asGoogle Wallet, backed bySprint andMetroPCS—had acquired certain assets and intellectual property from Softcard. The Softcard service was discontinued on March 31, 2015, and the three founding carriers pledged support for Google Wallet. In May 2015, Google unveiledAndroid Pay as a successor to Google Wallet and Softcard.
In November 2010,AT&T,T-Mobile, andVerizon officially announced a joint venture known as Isis, which planned to develop anear-field communications-basedmobile payments platform. The venture also announced partnerships withDiscover Financial for access to itspoint-of-service network, andBarclaycard as a card issuer. The company stated that it planned to "introduce its service in key geographic markets during the next 18 months".[1][2] The three carriers announced plans to invest more than $100 million in the project.[3]
The service originally planned to operate as apayment system that would handle its own transactions, but citing rapidly developing competition, Isis changed its model to integrate with existing credit cards and payment networks.[4][5] On July 19, 2011, Isis announced thatAmerican Express,MasterCard, andVisa would additionally back the platform. Isis planned to launch a trial program inSalt Lake City andAustin in early to mid 2012.[6][7][8]
In September 2011, Isis announced thatHTC,LG Electronics,Motorola Mobility,Samsung Electronics,Research in Motion, andSony Ericsson had committed to manufacturing smartphones that would be compatible with the system. It also announced a partnership with DeviceFidelity to manufacture NFC-enabling accessories for other devices so that they could support Isis.[9] In February 2012, Isis announcedBarclaycard,Capital One, andChase as launch bank partners for the service.[8]
Isis soft-launched in Austin and Salt Lake City on October 22, 2012,[10] and launched nationwide on November 14, 2013.[11]
In September 2014, the service wasrenamed "Softcard", as the name "Isis" had gained negative connotations due to its perceived association with theterrorist organization theIslamic State, often called the Islamic State of Iraq and Syria, and/or abbreviated to ISIS.[12]
On February 23, 2015,Google announced that it would acquire certain assets and intellectual property from Softcard, and integrate it into its own service,Google Wallet. At the same time, it was announced that AT&T, T-Mobile US, and Verizon would begin to back Google Wallet, and bundle its app with their compatible devices later in the year, in place of Softcard. The partnership aimed to build a stronger competitor to the competing mobile payment platformApple Pay, which was introduced alongside the launch of theiPhone 6 in late 2014, and experienced heavier adoption than other competing services due toApple's position in the market.[13][14][15] Softcard CEO Michael Abbott had previously indicated that the company was "actively working" with Apple to integrate its service with the device.[16] Google Wallet was also backed bySprint andMetroPCS.[17]
All three carriers had previously worked together in a standard setting environment without including Google Wallet; Verizon refused to allow its devices to access the service because it requires access to the "secure element" of a smartphone, despite Softcard having the same requirement.[18][19][20]
The Softcard service and apps ceased to function on March 31, 2015.[21] Softcard customer data was not migrated to Google Wallet, and the service does not supportWindows Phone.[22] At Google'sI/O developers' conference that May, the company unveiled a replacement for both services known asAndroid Pay.[23]
Softcard used several underlying technologies:
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