Google Wallet is a smart, virtual wallet that saves you time and money. With the Google Wallet mobile app, you can make your phone your wallet.
Google Wallet is a mobile payment system developed by Google that allows its users to store debit cards, credit cards, loyalty cards, and gift cards among other things, as well as redeeming sales promotions on their mobile phone. Google Wallet can use near field communication (NFC) to "make secure payments fast and convenient by simply tapping the phone on any PayPass-enabled terminal at checkout."
Google demonstrated the app at a press conference on May 26, 2011. The app was released in the United States only on September 19, 2011.
The service works with the 300,000 plus MasterCard PayPass merchant locations, with Visa licensing their Visa payWave system to Google for use in Wallet as of September 20, 2011. On May 15, 2013, Google announced the integration of Google Wallet and Gmail, allowing users to send money through Gmail attachments.
Google Wallet is only available in the US and to those 18 or older, for now.