A Eulogy: Google Helps Verizon, AT&T & T-Mobile with An Honorable Closure for Softcard

Almost 6 weeks ago, LTP was the first to report that Softcard was on it’s deathbed. We provided another update a week later, and then moved on to other more alive topics in the industry.

Google has now completed the last rites by announcing that it’s buying some Softcard assets and has distribution deals with the carriers for Google Wallet (- it had to be 3 separate deals to avoid antitrust scrutiny).

This development calls for a quick eulogy, especially because there is a lot of pent up disappointment in the industry that people have been sharing with me all day, so attempting to verbalize a collective view here. We don’t speak ill of the dead, so this rather long (yet in summary form) perspective will also attempt to remind you of the positive contributions made by Softcard/Isis to the ecosystem.

Firstly, what does this mean for the parties involved? As we had shared earlier in detail, that is a mixed bag:

  • This is a late yet slightly positive win for Google. It gets to preload Google Wallet on all Android devices, at least on those of these 3 investor-carriers, but the others will likely follow. We don’t know exactly how much Google paid, but let’s assume it was tens of millions of dollars and some rev-share. Worth it? Only if they make a few more back! (Note that it won’t cause even a nano-blip in the share price for GOOG one way or another.)
  • For the mobile operators who invested in the Softcard venture, this was yet another expensive failed experiment. It probably makes no material difference to the companies whatsoever, even after spending hundreds of millions of dollars - I don’t remember the executives of any of the companies having to answer a single question regarding Isis/Softcard from Wall street in any analyst call since this joint venture was anno ...
MOST POPULAR

To read this article, create a free account

Already a member? Log in


Annual Subscription

12-month access to 10,000+ insights, research reports, a database of 13,000+ FinTech companies, and a live global community.

$26/mo

TRY FREE FOR 7 DAYS

SKIP TRIAL

instant access to reports and global community along with donation to COVID-19 fund.

Quarterly Subscription

12-month access to 10,000+ insights, research reports, a database of 13,000+ FinTech companies, and a live global community.

$49/mo

TRY FREE FOR 7 DAYS

SKIP TRIAL

instant access to reports and global community

--------------- Reasons to buy ---------------

Understand the “Why” Behind the “What”

MEDICI offers data-driven, original, unique, and forward-thinking content to understand the “why” behind the “what”

10,000+ insights, 100+ research reports, and 1,000+ videos based on data, collected and processed by top-in-class researchers with over seven years of experience in the financial service industry.

Actionable Insights

We do not stop at the data; we analyze it and extrapolate actionable insights that shape and forecast market trends. All of our pieces are neutral, authentic, and unique – this means that you can’t read them anywhere else!

Data Visualization

We do also care about design. It’s why our infographics are the most-used ones in company reports and the most shared ones on social media.

Growing Proprietary Database of 13,000+ FinTech Companies

We have one of the largest databases with more than 13,000 company profiles listed across 60+ verticals! The database contains primary data collected in two ways:

Through our Global Listening Engine – a proprietary algorithm able to extrapolate and collect data across numerous sources

Directly from FinTechs – thanks to the onboarding flow through which companies can list themselves on the most used database for venture capital in the industry

Join the Largest Global FinTech Community

You will be added to our private WhatsApp Channel with more than 200 FinTech leaders across the globe, where we engage in discussions around various financial services topics daily. After a few clicks, you’ll get to know the whole community, including the MEDICI team – you can ask questions, suggest topics, and get behind-the-scenes insights

Q&A

What is MEDICI Inner Circle™?

MEDICI Inner Circle™ is the membership you need to freely access all MEDICI content, which includes insights, research reports, videos, startup knowledgebase, and the members-only community for live engagement.

What topics do you cover?

We cover more than 60+ sub-segments in FinTech – but we do not stop there; we also cover topics beyond FinTech, such as InsurTech, RegTech, PropTech, WealthTech, BankTech, AgriTech, and the enabling technologies enabling innovation such as AI, Blockchain, etc.

What do I get if I buy the membership? Is there a difference between being a free subscriber and being a member?

By becoming a member, you will unlock all the content on our website. A free subscriber gets access to only 5% of what we publish on the web-site. Paid members also get preferred access to our live events, and exclusive access to the members-only community for live digital engagement.

Do you have a discounted plan for students?

Yes. Please write to us at innercircle@goMEDICI.com.

Do you have an enterprise plan for corporates or groups?

Yes. Please write to us at innercircle@goMEDICI.com.

Do you offer refunds?

We offer a 7-day free trial during which you can access all of our data, insights, and analyses. You can cancel the subscription any time before the end of the free trial period. However, we do not offer refunds.

Unlock this article by signing up for MEDICI Inner Circle

--------------- OR ---------------