April 06, 2012

Amid several high-profile departures from its Google Wallet team, Google has acquired New York-based payment technology company TxVia to enhance its digital payments service.

Google VP Osama Bedier announced the acquisition in a blog post on Monday, characterizing the deal as a way to complement the capabilities of its Google Wallet payment service and to "accelerate innovation towards our full Google Wallet vision."

Financial terms were not disclosed.

Google Wallet offers a way to store mobile payment service credentials on one's mobile phone. The phone user can make purchases using any of those services--MasterCard PayPass, for example--through NFC technology, which enables wireless payments. Along with the capability to make payments, Google Wallet supports online offers and loyalty point programs.

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