JP Morgan Says Google's Mobile Payment Agreement Is 'Classic Huddle In A Storm' Scenario

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In a report published Tuesday, JP Morgan analyst Rod Hall commented on
Google Inc'sGOOG
distribution deal with
T-Mobile
,
Verizon
and
AT&T
to get its Google Wallet payments app pre-installed on their phones. "We believe this is a classic huddle in a storm scenario," Hall wrote. "Both Google and ISIS (Softcard) have realized that
Apple Inc's
Apple Pay technology is rapidly becoming the standard for mobile payments." Hall also added that as the Apple Watch gains momentum in mobile payment, it is doubtful that Google or Softcard will be able to catch up easily.
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Posted In: Analyst ColorAnalyst RatingsApple Watchgoogle walletJPMorganmobile paymentsRod HallSoftcard
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