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”.
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.