Search engine giant Google has confirmed its acquisition of mobile payments service Softcard and its technology. Google has been in talks with Softcard over its plans to acquire the service earlier this year.

"Softcard has completed a deal with Google to bring together leading technologies to advance mobile wallets. Google has acquired Softcard technology and capabilities to power the next generation of mobile payments," Softcard said on its official website.

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"For now, Softcard customers can continue to tap and pay with the app. We will share more information with customers and partners in the coming weeks."

Reports say Google is acquiring Softcard's assets to improve its payments service and technology. AT&T, T-Mobile and Verizon will now work with the search engine giant to pre-install Google Wallet on new Android smartphones.

"We've received great feedback from people who use this feature and we've continued investing to make it easy and secure for more people to pay with their phones," said Google.

"A big part of this is working with other innovators in the industry to help provide a seamless experience across a wide range of phones and stores." Google added.

Softcard was established in 2010 by AT&T Mobility, T-Mobile USA and Verizon Communications, Inc. Originally called 'Isis', the payment service had changed its name due to its association with the extremist group in the Middle East.

Before Google's acquisition, other tech companies such as Microsoft and Paypal have also offered buyout deals.

TagsSoftcard, Payments Service, Google Wallet, Acquisition, AT&T, T-Mobile, verizon