[Update April 4, 2012]
Google’s late evening announcement that it has acquired payments technology company TxVia gives the search engine giant the ability to start solving its Google Wallet’s security issues.
In the digital wallet’s infancy, observers pointed out flaws that put the technology in doubt.
The TxVia acquisition, announced Monday, can change that. TxVia owns a payments platform that allows card managers to set risk rules that take into account the specific attributes of mobile payments.
TxVia’s platform is “flexible and nimble,” says Madeline K. Aufseeser, a senior analyst with Aite Group. “It gives [Google] the ability to create add on-features and services that are specific to a digital wallet component.