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Google acquires TxVia in an effort to expand Google Wallet

Tuesday, April 3, 2012

Google acquires TxVia in an effort to expand Google Wallet
It looks like Google is seriously attempting to expand the capabilities of its Google Wallet mobile payment service as the company has recently announced that they have bought payments company, TxVia. While the financial terms of the acquisition were not disclosed, according to Osama Bedier, vice president of Wallet and Payments and Google believes that TxVia complements Google Wallet's payment capabilities and will help the company achieve their "full Google Wallet Vision".

We know that Google is looking to expand the reach of Google Wallet as there have been talks in the past that Google might be looking at partnering up with other carriers. The service originally launched with Sprint as its sole partner and with the Nexus S being the only device that came with support for Google's mobile payment services. While the exact details of the deal were not revealed, given TxVia's management of more than 100 million accounts, it is likely that this deal will give Google access to its customers and major payment networks.

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