Softcard Layoffs Follow Marketing Push (Jan. 12, 2015)
Shortly after Softcard unveiled Tappy, a puppet starring in a campaign to educate consumers about Softcard and mobile payments, the NFC-based mobile payment initiative backed by AT&T Mobility, Verizon Wireless and T-Mobile has laid off approximately 60 employees, according to reports.
“Softcard is taking steps to reduce costs and strengthen its business,” the company said in a statement. “This includes simplifying the company’s organizational structure and consolidating all operations into its Dallas and New York offices, which involves layoffs across the company. We believe these efficiencies will best position Softcard in the marketplace while maintaining focus on serving our market.”
In recent months, Softcard, formerly Isis Wallet, had announced deals with huge QSRs McDonald’s and SUBWAY, enabling consumers to use Softcard at the POS at 40,000 locations between those two restaurant chains, alone.
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