Google Buys IP from Softcard – Strikes Wallet Deal with AT&T, T-Mobile, and Verizon

Google today announced that AT&T, T-Mobile, and Verizon Wireless have agreed to preload Google Wallet on their Android smartphones later this year.

The mobile wallet will come on all devices running Android 4.4 KitKat and higher. At the same time, Google is purchasing intellectual property from Softcard — the mobile payment service created by the same three carriers — to help improve Wallet’s performance.

Softcard said its users will be able to continue to make tap-and-go payments at supporting retailers for the time being. Both Google and Softcard said more information will be made available in the coming weeks.

Google is looking to revive its mobile wallet product after seeing Apple’s success with Apple Pay, which is only available to the iPhone. Google Wallet has been around since 2011.