Google (GOOG) has acquired the prepaid card processor TxVia, the companies said Monday.
The deal will improve the Google Wallet mobile payment system and help the search giant build partnerships, said Osama Bedier, Google's vice president of wallet and payments, in a blog post.
"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," said Bedier in the blog post.
"Success in payments requires not only innovative technology and operational excellence but also broad collaboration," said Anil Aggarwal, TxVia's chief executive, in a message posted to TxVia's website. "As part of Google, we look forward to expanding our partnerships with both the payments industry and a wide variety of other organizations."
Neither company disclosed the financial terms of the deal.