The recent announcement of Google’s acquisition of the three-year-old prepaid processor TxVia has certainly created a buzz within the payments industry and a lot of speculation as to what Google’s intentions are. (Read yesterday’s Perspective by Tim Sloane, director of Mercator advisory Group’s Prepaid advisory Service).
What makes the acquisition of particular interest from a technology standpoint is that the TxVia payment platform is an Model-Driven Architecture (MDA) based system. MDA is a software design approach for the development of software systems and has been around for several years and used in several industries including aerospace, automobile, defense, and telecom. MDA is an industry standard controlled by the Object Management Group and has been embraced in open application development environments such as Eclipse. TxVia was the first to bring this highly flexible, design and domain expertise development platform to the payments processing space. With Google being an engineering culture it will be interesting to see how Google’s team of techies will leverage and integrate this MDA based system into their operation.
Since this is the first time many payment industry folks are hearing the term MDA, PaymentsJournal has gathered a few whitepapers and useful resource links to help our readers learn more about MDA.