Google has purchased a company called TxVia to beef up its Google Wallet service. TxVia is a payment technology company the Google says will help accelerate its vision to the full Google Wallet experience. TxVia is a technology pioneer according to Google with technology for fast, flexible, and reliable payment platforms.
TxVia has been supporting the management of over 100 million accounts according to Google and is partners with some of the industry's biggest brands. I'm not familiar with TxVia, but apparently, the company is big in the prepaid cards. The company is also certified and connected to the major payment networks giving Google Wallet and its partners a strong network to build on.
Google notes that it has worked with TxVia over the last year. The purchase was complete as of yesterday and The official statement from TxVia is below. The financial terms of the purchase were not disclosed
For more than 5 years, TxVia has been delivering groundbreaking processing solutions to enable new and increasingly complex forms of payment. We're delighted to announce that as of April 2, 2012, we are continuing that mission at Google.
Success in payments requires not only innovative technology and operational excellence but also broad collaboration. As part of Google, we look forward to expanding our partnerships with both the payments industry and a wide variety of other organizations that are pioneering a new era of commerce.