28 February 2017
Visit dh.com

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

03 April 2012  |  8634 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)

Finextra news in your inbox

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

Related stories

Google Wallet suffers further setbacks as key execs jump ship

Google Wallet suffers further setbacks as key execs jump ship

20 March 2012  |  12201 views  |  2 comments
Apple, Google, Facebook and Amazon to lead m-payments gold-rush?

Apple, Google, Facebook and Amazon to lead m-payments gold-rush?

09 March 2012  |  14286 views  |  3 comments
Google scrapped plans for virtual currency over regulatory concerns

Google scrapped plans for virtual currency over regulatory concerns

01 March 2012  |  12597 views  |  2 comments
Google disables pre-paid card provisioning following Wallet security scares

Google disables pre-paid card provisioning following Wallet security scares

13 February 2012  |  10128 views  |  0 comments
Google Wallet PIN vulnerability exposed

Google Wallet PIN vulnerability exposed

09 February 2012  |  12332 views  |  0 comments
Google payments exec Gupta quits

Google payments exec Gupta quits

27 January 2012  |  7836 views  |  0 comments
Google Wallet stores unencrypted data - viaForensics

Google Wallet stores unencrypted data - viaForensics

13 December 2011  |  10367 views  |  0 comments
Google Wallet coming to UK ahead of Olympics - report

Google Wallet coming to UK ahead of Olympics - report

12 December 2011  |  13288 views  |  0 comments | 1 tweets
Citi rounds on Isis, urges other banks to join Google Wallet

Citi rounds on Isis, urges other banks to join Google Wallet

12 October 2011  |  18331 views  |  5 comments
Google launches mobile wallet

Google launches mobile wallet

19 September 2011  |  17185 views  |  1 comments
BankSimple taps TxVia for payment processing

BankSimple taps TxVia for payment processing

22 March 2011  |  9360 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit contisgroup.comvisit dh.com

Top topics

Most viewed Most shared
BNY Mellon seeks blockchain experts for new emerging biz and tech teamBNY Mellon seeks blockchain experts for ne...
8369 views comments | 7 tweets | 4 linkedin
Starling releases Open API, talks up marketplace modelStarling releases Open API, talks up marke...
8129 views comments | 19 tweets | 18 linkedin
hands typing furiouslyBlockchain Technology
8106 views 1 | 18 tweets | 8 linkedin
Barclaycard strikes new wearable deals for contactless jewellery and watchesBarclaycard strikes new wearable deals for...
7454 views comments | 17 tweets | 15 linkedin
hands typing furiouslyKiller Corporate Banking Use Cases for Fin...
6967 views 2 | 12 tweets | 2 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job