Softcard

This article is about the mobile payment system. For the Microsoft plug-in card, see Z-80 SoftCard.

JVL Ventures, LLC

Trading name	Softcard
Formerly called	Isis Wallet
Type	Private
Industry	Mobile Commerce
Fate	Assets acquired by Google
Founded	November 16, 2010 (2010-11-16) in New York City, New York
Founders	AT&T Mobility, T-Mobile USA and Verizon Wireless
Headquarters	New York City, New York, United States
Area served	United States, Worldwide
Key people	Michael Abbott (CEO)
Services	Mobile Commerce and Payments
Website	gosoftcard.com

JVL Ventures, LLC d/b/a Softcard formerly Isis Mobile Wallet, was a joint venture between AT&T, T-Mobile and Verizon which produced a mobile payments platform known as Softcard, which used near-field communication (NFC) technology to allow users to pay for items at stores and restaurants with credit and debit card credentials stored on their smartphones. The partnership was first announced on November 16, 2010; following a trial period in 2012, the service officially launched nationwide on November 14, 2013. The official Softcard app was 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. would acquire Softcard's intellectual property and integrate it into its competing Google Wallet service. As a result, the Softcard service was permanently discontinued on March 31, 2015, and Softcard's member carriers have begun backing the newly created Android Pay system instead.

History

In November 2010, AT&T. T-Mobile USA and Verizon officially announced a joint venture known as Isis, which planned to develop a near-field communications-based mobile payments platform. The venture also announced partnerships with Discover Financial for access to its point-of-service network, and Barclaycard as a card issuer. The company stated that it planned to "introduce its service in key geographic markets during the next 18 months". The three carriers announced plans to invest more than $100 million in the project.

The service originally planned to operate as a payment system that would handle its own transactions, but citing rapidly developing 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 would additionally back the platform. Isis planned to launch a trial program in Salt Lake City and Austin in early to mid 2012.

In September 2011, Isis announced that HTC, LG Electronics, Motorola Mobility, Samsung Electronics, Research in Motion, and Sony Ericsson had committed to manufacturing smartphones that would be compatible with the system. It also announced a partnership with DeviceFidelity to manufacture NFC-enabling accessories for other devices so that they could support Isis. In February 2012, Isis announced Barclaycard, Capital One, and Chase as launch bank partners for the service.

Isis soft-launched in Austin and Salt Lake City on October 22, 2012, and launched nationwide on November 14, 2013.

In September 2014, the service was renamed "Softcard", as the name "Isis" had gained negative connotations due to its use by a terrorist organization formerly known as the Islamic State of Iraq and al-Sham (which is abbreviated as ISIS).

Google acquisition, discontinuation

On February 23, 2015, Google announced that it would acquire certain assets and intellectual property from Softcard, and integrate it into its own service, Google Wallet. At the same time, it was announced that AT&T, T-Mobile US, and Verizon would begin to back Google Wallet, and bundle its app with their compatible devices later in the year, in place of Softcard. The partnership aims to build a stronger competitor to the competing mobile payment platform Apple Pay, which was introduced alongside the launch of the iPhone 6 in late 2014, and has experienced heavier adoption than other competing services due to Apple's position in the market. Softcard CEO Michael Abbott had previously indicated that the company was "actively working" with Apple to integrate its service with the device. Google Wallet is also backed by Sprint and MetroPCS.

Ironically, all three carriers had previously colluded against Google Wallet in order to protect Softcard; Verizon refused to allow its devices to access the service because it requires access to the "secure element" of a smartphone, despite Softcard having the same requirement.

During the last year of Softcard's operation, hackers operating through a data center in downtown Paris, France succeeded in exfiltrating massive amounts of data from the Softcard production environment on at least three occasions.

The Softcard service and apps ceased to function on March 31, 2015. Softcard customer data was not migrated to Google Wallet, and the service does not support Windows Phone. At Google's I/O developers' conference that May, the company unveiled a replacement for both services known as Android Pay.

Technologies

Softcard uses several underlying technologies:

• C-SAM mobile wallet platform
• Gemalto mobile commerce platform

External links

• Official website