28 May 2015
Your browser is unable to support Flash files.

Google buys payments firm TxVia; loses Wallet co-founder to Square

03 April 2012  |  7730 views  |  0 google wallet

Google has acquired payments technology company TxVia for an undisclosed fee as it scrambles to give its Wallet service a much-needed shot in the arm. Meanwhile, the firm has lost Wallet co-founder Rob von Behren to rival Square.

In a blog post, Osama Bedier, VP, wallet and payments, Google, says TxVia will "complement our payments capabilities and accelerate innovation towards our full Google Wallet vision".

Founded in 2008, TxVia's payments platform has supported the management of more than 100 million accounts and last year secured a deal with new banking player Simple.

The vendor 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," says Bedier.

News of the acquisition comes as Google Wallet co-founder Rob von Behren revealed on his LinkedIn profile that he has jumped ship for rival Square where he takes on the exotic sounding role of 'hyperspatial payments pioneer'.

Von Behren's exit comes soon after founding engineer, Jonathan Wall, and product lead, Marc Freed-Finnegan, quit the Wallet project to set up their own payments start-up.

Despite its enormous clout, Google has found its entry into the mobile payments market tough work, experiencing a number of security setbacks and coming up against fierce rivals in Square, PayPal and the Isis telco consortium.

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

20 March, 2012
09 March, 2012
01 March, 2012
13 February, 2012
09 February, 2012
27 January, 2012
13 December, 2011
12 December, 2011
12 October, 2011
19 September, 2011
22 March, 2011

Related company news


Top topics

Most viewed Most shared
UK opts out of European online payments se...
7763 views comments | 22 tweets | 17 linkedin
Bigger banks may have to set up their own...
6554 views comments | 41 tweets | 34 linkedin
JPMorgan Chase puts data to use with new t...
4709 views comments | 16 tweets | 7 linkedin
Visa Europe opens innovation hub in Israel
4450 views comments | 17 tweets | 9 linkedin
CBA to test Ripple for intra-bank transfer...
4137 views comments | 22 tweets | 19 linkedin

Featured job

Competitive base, 20% bonus, benefits
London, UK

Find your next job