Google acquired technology and intellectual property from Softcard last month in lieu of which Softcard has announced that its shutting down on 31st of March. The Softcard app will instead be replaced by Google Wallet.

Softcard announced in a statement: “We are pleased to let you know that Google has acquired technology from Softcard to power the next generation of mobile wallets. What does this mean for you? As of 3/31 your Softcard app will no longer work. You can continue to use the Softcard app until 3/31. After that your Account will be closed.  To keep using a digital wallet app download Google Wallet now.”

For existing Softcard users, payment and loyalty card information will not be shared as part of this deal. Once the wallet is terminated their payment and loyalty cards can no longer be used in the Softcard wallet app. However they can continue to use  the plastic payment and loyalty cards in-store or online.

Shutting down of Softcard, owned by Verizon Wireless, AT&T, and T-Mobile; also marks the demise of the company mascot Tappy.

The rather cumbersome process to setup payments via Softcard included purchasing a special sim card and since credit card support was limited, most people had to funnel money into a prepaid American Express account to use it.

However now that Google has acquired Softcard, it has taken down a competitor in the raging mobile payments battle. Google wallet app which hasn’t been very popular either will now come preinstalled in all  Android devices as per a deal Google has signed with the carriers.

(image credit: Carlos Luna)