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”.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

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.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Prior to that, two other senior executives,
Jonathan Wall and Marc Freed-Finnegan, left to launch their own
mobile payments firms.