February 25, 2015
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: