Google buys payment-processing company TxVia to accelerate Google Wallet innovation
Today, Google announced that it had acquired TxVia, a payment technology company that has supported the management of over 100 million accounts since 2008. Google says that its acquisition of TxVia is a good thing because it will complement their payments capabilities and accelerate innovation towards their full Google Wallet vision.
Unfortunately, the terms of the acquisition wasn’t made available.
Although you probably haven’t heard of TxVia before, you’ve probably used one of their services in the past. TxVia has been in business for over 5 years. They are in charge of enabling mass-market prepaid cards, general purpose reloadable cards, and gift cards. TxVia has a relationship with all major payment networks, and manages over 100 million accounts.
This acquisition by Google is a big deal and shows that the company is committed to making Google Wallet a better product.