Much anticipated Google NFC (Near field communication) payment service "Google Wallet" finally got unveiled officially, the Google Wallet app once installed on your mobile-phone will make your phone your secure digital wallet. With NFC enabled mobile-devices users will be able to pay for services by just tapping on their phones at any "near field communication (NFC)" payment terminal, since this is an mobile application users will not only be able to store and use their credit-cards but also manage shopping information like offers, loyalty cards and gift cards. When you tap to pay, your phone will also automatically redeem offers and earn loyalty points for you.

More information regarding Google Wallet available at official homepage - http://www.google.com/wallet/.