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Google in talks to acquire mobile payment company Softcard

MUMBAI: Search giant Google is reportedly in talks to acquire mobile payment company Softcard.

As per reports, the deal could help pair Google with the largest US wireless carriers to battle Apple and its new Apple Pay service. The deal may be valued below $100 million.

Apple Pay’s early traction has forced other major internet companies like PayPal and Google to step up their mobile wallet efforts.

Softcard is jointly owned by AT&T Inc, Verizon Communication Inc’s Verizon Wireless Inc and T-Mobile US Inc.

Softcard’s mobile app, which is available on both iOS and Android smartphones, allows customers to pay for items at more than 200,000 stores across the US with a wave of their mobile device.