Google (NASDAQ GOOG) are set to enter the mobile payment market. They would come in direct competition with Apple. Google (NASDAQ GOOG) are planning to launch their own version of Google Wallet which would be a major competitor to the other mobile payment companies. Some of the other major companies in this segment include the likes of Samsung and Apple. It would be interesting to see the way Google performs in such a tightly competitive market.
Here in this article, we will take a closer look at this new move from Google. We will see how this may change the market for the GOOG stock and also how the stock might react to such a change. Some of the recent moves from Google have been intriguing to say the least.
Google have recently been in a lot of positive news. Recently the search engine giants acquired the likes of Softcard, which should help them enter the mobile payment service market. It should prove to be a major game changer in a market which is yet to blossom to its fullest potential.
Google Inc (NASDAQ GOOG) News: Softcard and Other Acquisitions
Softcard was developed by telecom giants like AT&T, T-mobile and Verizon Wireless. It was made to be a competitor of Google Wallet and ironically the company will now be shutting down its own operations. The financial terms of this deal have not been made public but it is speculated to be somewhere in the range of $50 Million.
With the recent slew of acquisitions from Google, the company looks well primed to place its stake in this new market. It would be interesting to see if Softcard helps them with this role.
Google Inc Financial News (NASDAQ GOOG)
Google (NASDAQ GOOG) have been performing well in the market. Analysts have been rating the stock on a higher level and the stock may well see itself going onto greener ground in the coming months.
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