Google Inc. has acquired prepaid card processor TxVia, the companies announced April 2.
The deal will improve the Google Wallet mobile-payment system and help the search giant build partnerships, Osama Bedier, Google vice president of wallet and payments, said 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," Bedier said.
"Success in payments requires not only innovative technology and operational excellence but also broad collaboration," Anil Aggarwal, TxVia chief executive, said 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.
