Softcard lays off 60 staff in bid to cut costs

US carrier-owned mobile payments venture Softcard has laid off 60 employees out of an employee base of “hundreds” as part of an effort to “reduce costs and strengthen its business”.

Softcard“This includes simplifying the company’s organisational structure and consolidating all operations into its Dallas and New York offices, which involves layoffs across the company,” the company explained in a statement sent to NFC World+.

“We believe these efficiencies will best position Softcard in the marketplace while maintaining focus on serving our market.”

The move follows the launch of Apple Pay and a switch of name from Isis to Softcard in September and the unveiling of a reported US$1.5m online advertising campaign in November.

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