Google has acquired payments technology company TxVia, Google Wallet chief Osama Bedier announced on the company’s blog.
According to Bedier, the acquisition will improve Google Wallet’s payments capabilities and help to “accelerate innovation towards our full Google Wallet vision.”
“Since 2008, TxVia has supported the management of more than 100 million accounts,” wrote Bedier. “They’ve partnered with the industry’s best known brands, and their leadership team has played an instrumental role in defining the fast-growing prepaid card segment of emerging payments.”
TxVia’s direct connection to the major payment networks should also help establishes a solid foundation for Google Wallet, which as of late has been stymied by slow consumer adoption.
“We’ve worked closely with TxVia over the last year, and they’re a forward-thinking team that will help us take the next steps in realizing the future of commerce,” concluded Bedier. “We welcome the TxVia team to Google.”