Google Pads Wallet with TxVia Acquisition
Ambition is Google's middle name. Not only do they have their fingers in as many pies as possible, the search giants have a habit of dreaming big and shooting for the stars. One such endeavor is Google Wallet, their mobile payment system. Their commitment to it is undoubted, as proven by the Galaxy Nexus which bears their branding and its NFC capabilities.
Now, Google is buying mobile payment technology company TxVia to further beef up their roster. The company has previously worked on prepaid and re-loadable gift cards both of which, if incorporated, can add to the functionality of Google Wallet.
The idea behind Google Wallet is to utilize NFC capabilities in conjunction with smartphones to carry out every day transactions such as the tapping of the EZ link card to enter the public transport system. While Google might be ramping up the technology required to make this possible, there are still a myriad of legal and logistic hurdles that still need to be surmounted.