It’s no secret that Google Wallet has experienced its share of growing pains, but throwing in the towel appears to be the furthest thing from the search giant’s mind. Google announced on Monday that it has acquired the mobile payment firm TxVia for an undisclosed sum. Google said it plans to use TxVia’s technology to improve Google Wallet, which has so far only been widely adopted by Sprint.
“[Since 2008], 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,” said Osama Bedier, vice president of Wallet and Payments at Google.
Bedier also explained that TxVia has supported the management of more more than 100 million accounts and that it already offers a fast and reliable payment platform. Could this be the boost that Google Wallet needs? Maybe, but we suggest that you still hold on to your actual wallet for now.