JVL ​​Ventures, LLC d/b/a Softcard previous Isis Mobile Wallet , is a joint company between AT & amp; T, T-Mobile and Verizon that resulted in a mobile payment platform known as Softcard , which uses near-field communications technology (NFC) to allow users to pay for items in stores and restaurants with credit and debit card credentials that are stored on their smartphone. This partnership was first announced on November 16, 2010; following the trial period in 2012, the service was officially launched nationwide on November 14, 2013. The official Softcard app is available for NFC compatible smartphones using the Android operating system and later on Windows Phone 8.1.
On February 23, 2015, it was announced that Google Inc. will acquire the intellectual property of the Softcard and integrate it into competing Google Wallet services. As a result, the Softcard service was terminated permanently on March 31, 2015, and the Softcard member operators have begun to support the newly created Android Pay system.
Video Softcard
History
In November 2010, AT & T. T-Mobile and Verizon formally announced a joint venture known as Isis, which plans to develop a communications-based mobile payment platform near the field. The company also announced a partnership with Discover Financial for access to a point-of-service network, and Barclaycard as a card issuer. The company stated that it plans to "introduce its services in major geographic markets over the next 18 months". The three operators announced plans to invest more than $ 100 million in the project.
The service was initially planned to operate as a payment system that would handle transactions on its own, but cites rapidly growing competition, Isis changed its model to integrate with existing credit cards and payment networks. On July 19, 2011, Isis announced that American Express, MasterCard, and Visa will also support the platform. Isis plans to launch a pilot program in Salt Lake City and Austin from early into mid-2012.
In September 2011, Isis announced that HTC, LG Electronics, Motorola Mobility, Samsung Electronics, Research in Motion, and Sony Ericsson have committed to producing smartphones that are compatible with this system. It also announced a partnership with DeviceFidelity to produce accessories that allow NFCs for other devices so they can support ISIS. In February 2012, Isis announced Barclaycard, Capital One, and Chase as launch bank partners for this service.
Isis was launched gently in Austin and Salt Lake City on October 22, 2012, and was launched nationwide on November 14, 2013.
In September 2014, the service was renamed "Softcard", since the name "Isis" has been negatively connoted for its use by a terrorist organization formerly known as the Islamic State of Iraq and al-Sham (abbreviated as ISIL, ISIS, and/or IS).
Google Acquisition, termination
On February 23, 2015, Google announced that it would acquire certain intellectual property and assets from the Softcard, and integrate it into its own service, Google Wallet. At the same time, it was announced that AT & amp; T, T-Mobile US and Verizon will begin supporting Google Wallet, and merge their apps with compatible devices at the end of the year, in lieu of the Softcards. The partnership aims to build a stronger competitor to the competitive mobile payments platform, Apple Pay, which was introduced simultaneously with the launch of the iPhone 6 by the end of 2014, and has undergone a heavier adoption than any other service competing because of Apple's position in the market. Softcard CEO Michael Abbott previously indicated that the company is "actively working" with Apple to integrate its services with the device. Google Wallet is also supported by Sprint and MetroPCS.
All three operators have previously worked together in a standard setting environment without including Google Wallet; Verizon refuses to allow its devices to access the service because it requires access to the "safe element" of the smartphone, even though the Softcard has the same terms.
Softcard and app services stop functioning on March 31, 2015. Softcard customer data is not migrated to Google Wallet, and services do not support Windows Phone. At Google's I/O developer conference that May, the company launched a replacement for both services known as Android Pay.
Maps Softcard
Technology
Softcards use some of the underlying technologies:
- C-SAM, mobile wallet platform
- Gemalto, mobile trading platform
References
External links
- Official website
Source of the article : Wikipedia
0 Comments