Google Wallet never supported anything but Citi MasterCards, further limiting its already tiny audience (since only a few phones ever supported Wallet). However, that tiny audience gets to use other cards from now on. Google Wallet now supports all MasterCard, Visa, American Express, and Discover bank cards.
However, it isn’t true support. It has one massive flaw. To get it to work without agreements with all the banks (that Google promised), they make the phone bring up a virtual MasterCard linked to your bank card, and that’s what the merchant sees. This means that on your card statement, you’ll see a Google Wallet charge instead of a store specific charge. There are loads of problems with this method, including worse finance management, untraceable charges, and even possibly problems with refunds. The only way for it to work properly is to use Citi MasterCards.
They have also integrated a remote disable feature for safety. If you lose the phone, you can disable Wallet on it. It’s a nice touch of safety after all the controversy with safety Google has had.
This is of course good news, but what does it matter to the masses of people with NFC enabled phones but no Wallet support? ISIS, you better support rooted devices.