Google has announced its acquisition of
payments processor Txvia for an undisclosed sum.
Google’s wallet and payments VP Osama Bedier
said in a blog post that the partnership with Txvia “will
accelerate innovation towards our full Google Wallet vision”.
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After a particularly hard first quarter,
Google expects the acquisition to boost its wallet service,
extending its reach and tapping in to the 100 million customers
affiliated to TxVia’s technology.
Back in February Google Wallet was hit when a hacker developed
an app that broke the wallet’s security checks, and posted a video
on his
blog showing the steps to do it.
Google had to suspend the service and restored it after battling
criticism for being unsafe.
Yesterday
we reported that Google Wallet’s co-founding engineer Rob von
Behren has joined mobile POS provider Square.
Prior to that, two other senior executives,
Jonathan Wall and Marc Freed-Finnegan, left to launch their own
mobile payments firms.
