Google has acquired the payments technology firm TxVia in a bid to give its Google Wallet mobile app payment service a boost.
In a blog post, Osama Bedier, Google’s vice-president of Wallet and Payments, said the internet giant had acquired TxVia to “complement” the capabilities of Google Wallet and to speed up Google’s vision for the service.
“TxVia is a technology pioneer that offers a fast, flexible and highly reliable payments platform – which we believe is one of the best in the world,” said Bedier.
TxVia itself has been in operation for the past five years, supporting more than 100m accounts during that time. The company enables electronic payments with a platform-as-a-service (PaaS) delivery model.
Bedier said Google had been working with TxVia over the past year.
The Google Wallet app allows users to pay for goods using their mobile phones via near field communication. Last September, Google Wallet was rolled out to all Nexus S 4G devices on the Sprint network in the US.