Google Acquires Payments Technology Company TxVia In Hopes Of Fattening Their Wallet
Google Wallet has been dealt more blows than Rocky Balboa but it just won’t quit (even though some of its engineers will). Today, Google announced the acquisition of technology company TxVia and hopes their expertise will “accelerate innovation towards our full Google Wallet vision.” TxVia has worked with advanced processing technology for prepaid cards and emerging payments since 2008 and has supported the management of more than 100 million accounts. Google Wallet could use all the help it can get right now and I’m betting TxVia’s connections with major payment networks will come in handy.
I’m certainly rooting for Google Wallet (fanboi much?) and I’m actually hoping this acquisition will bring the much needed Google Play Store Gift Cards. In my opinion, gift cards have always been the missing link, and once we get them, you’ll see the consumption of paid content skyrocket. Unfortunately, we’ll just have to sit tight to see how this acquisition will affect Google Wallet and Google’s goal of improving the commerce experience.
- SourceGoogle Commerce Blog