Google to Close Softcard and Transfer Existing Customers to Google Wallet on March 31

[dgstorm]

That was quick. Almost 10 days ago (on February 24th), Google and Softcard announced that they had purchased the company's technology and worked out deals with the carriers AT&T, Verizon and T-Mobile for the new service to transfer to Google.

At that time, they indicated that more info would be coming regarding the existing account holders of Softcard. That info was just shared: Google plans to shutter Softcard's operations on March 31st, and will transfer existing customer accounts over to Google Wallet.

Update: According to some new reports from folks here in this thread, it looks like Softcard will not be transferring accounts, but will be closing them. Folks will need to pull their money out and contact Google if they want to get it moved into a Google Wallet account.

Source: CNET

 

[akhenax]

This is interesting considering I remember Verizon fighting tooth and nail to keep Google Wallet off their phones, because they wanted to use ISIS (now SoftCard). Oh well, I guess we are coming full circle now.

If you were able to get that $10/$25 credit just for signing up, better go ahead and use up that money somehow, because accounts will be closed, not transferred.

Oh, and last I check, Google Wallet was not very popular among the raters on Google Play.

Last thing: I heard Google is also starting another service called Android Pay, to compete with Apple Pay and Samsung Pay.

[Google exec Sundar] Pichai confirmed that Google Wallet would continue as a separate service to Android Pay, albeit one reliant on Android Pay's framework.

With all the different "Pay" methods, I think we all pay in the end.

 

[jtpowell]

This is interesting considering I remember Verizon fighting tooth and nail to keep Google Wallet off their phones, because they wanted to use ISIS. Oh well, I guess we are coming full circle now.

SoftCard is ISIS. They changed their name not all that long ago. It worked through American Express Serve and other very limited amount of cards, Wells Fargo I think. Linked to whatever other primary card or banking account you had. In the beginning when I spent, say $10, I'd only get charged $9 by SoftCard/ISIS. That was nice. I really don't care as long as it's secure and works.

 

[akhenax]

SoftCard is ISIS. They changed their name not all that long ago.

You are right, that's why I mentioned ISIS instead of SoftCard, because the article was on SoftCard, but I should have been explicit about it. I will edit. Thanks.

 

[hammerhead13]

maybe now i can get that off my phone.

 

[Mustang02]

How do you know accounts will be closed and not transferred? I have money on my isis/softcard whatever it's called now app. I'm not planning on going to spend it in the next week. Do you have a link to where it said accounts closed?

 

[akhenax]

I received an email from Softcard that said as much.
Also, here's an article from The Verge.

All existing Softcard user accounts will be closed on March 31st, according to an email being sent out to customers.

 

[Mustang02]

Closed is fine but not transferring money is a huge problem.

We closed down everyone's account when we bought the new bank. Its common but the money was transferred over at the last day of closing. The bank didn't just keep the money.

 

[racasc]

The money in Softcard was actually stored in an American Express Serve account. That account isn't going anywhere and you can still use the money you've got in it. Unless like me you threw the Serve account card away as soon as you got it. I'm sure you can log into your AmEx account and get a new card. I plan on spending all my money in it before the 31st and closing the Serve account.

 

[Mustang02]

The money in Softcard was actually stored in an American Express Serve account. That account isn't going anywhere and you can still use the money you've got in it. Unless like me you threw the Serve account card away as soon as you got it. I'm sure you can log into your AmEx account and get a new card. I plan on spending all my money in it before the 31st and closing the Serve account.

I just received the email from Amex saying the exact same thing. So I need to figure out how to get my money out of there.