Google acquires TxVia for help in the online payments department

Seth Weintraub | Apr 2 2012 - 6:17 pm PT

Google today revealed that it purchased mobile payments company TxVia for an undisclosed sum of money.

we’ve acquired payments technology company TxVia to complement our payments capabilities and accelerate innovation towards our full Google Wallet vision. 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.

Since 2008, TxVia has supported the management of more than 100 million accounts. They’ve partnered with the industry’s best known brands, and their leadership team has played an instrumental role in defining the fast-growing prepaid card segment of emerging payments. In this time, TxVia has also certified and directly connected to the major payment networks, which establishes a solid foundation for Google Wallet and our partners to drive innovation on a global scale and in a partner friendly way.

Google Wallet has been somewhat slow in adoption due in no small part to the competing Verizon-AT&T-T-Mobile ISIS consortium. Google’s Payments team has also undergone some strife…

as AllThingsD notes:

Google has also faced a number of internal setbacks, including a couple of departures from the team, such as the resignation of Vikas Gupta, who was the head of consumer payments, and the reassignment of Stephanie Tilenius. Additionally, it was reported today that Google Wallet’s co-founding engineer Rob von Behren has joined Square, according to NFC Times.

TxVia’s website is now Google-fied, but the old website is available at Achive.org, which reveals this soon-to-be irrelevant tidbit:

TxVia Name

The name TxVia (pronounced “T X Vee-a”) conveys our unique approach to processing technology and our pioneering use of platform-as-a-service (PaaS) and model-driven architecture (MDA) in the card payments industry. We use “Tx” as an abbreviation for “transaction” and “Via” for its meaning of “path”. “TxVia”, therefore, is intended to represent the graphical processing models we utilize to deliver PaaS, which encapsulate, execute and visualize processing platforms – all in terms of transactions and their locations and flows.