Google acquires mobile payments startup TxVia
Google (NASDAQ:GOOG) has acquired payments processing company TxVia to accelerate rollout of its Google Wallet platform. Financial terms were not disclosed.
TxVia's platform encompasses consumer, corporate and government payment services, including hosting and management, and supports more than 100 million accounts worldwide. Its partners include prepaid card companies, rewards card vendors and ATM network systems. Google Vice President of Wallet and Payments Osama Bedier notes that TxVia has also "certified and directly connected to the major payment networks," which will boost efforts to scale Google Wallet worldwide.
Google Wallet offers tap-and-pay services and mobile discount programs across selected Android devices. Sprint Nextel (NYSE:S) supports the service on two phones, Samsung's Android-powered Nexus S and Galaxy Nexus, and will add the LG Viper this spring. At the recent Mobile World Congress 2012 event, Bedier said Sprint will introduce "at least 10 additional phones" with support for Google Wallet this year.
Last month, Bloomberg reported Google is considering sharing Wallet revenues with mobile operators, including Verizon Wireless (NYSE:VZ) and AT&T (NYSE:T), as a way to make the service available to more consumers and in more Android smartphones. The changes are being considered following slow adoption of the service: Verizon Wireless and AT&T--which are teaming with T-Mobile USA for Isis, a rival mobile payment service slated to begin consumer trials later this year--have been reluctant to embrace Google Wallet.
Google Wallet has also faced the exits of several key executives: Jonathan Wall, credited as one of the original creators of the Google Wallet software, left Google in March to launch his own m-commerce startup, Tappmo, taking Wallet lead product manager Marc Freed-Finnegan with him. On Monday, NFC Times reported Google Wallet co-founding engineer Rob von Behren is the latest to leave the Google ranks, joining rival m-commerce startup Square.
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