In the past few thousand years, the way we pay has changed just three times. Coins, to paper money, to plastic cards. But now google has just launched one of the biggest piece of new technology in business in the last ten years.

The app was released on the 19th of september and at the moment is only available on the Nexus S 4G but google hope to have it readily available on most smart phones very soon.

Google Wallet is an Android app that makes your phone your wallet. It stores virtual versions of your existing plastic cards on your phone.

It will eventually hold many if not all of the cards you keep in your leather wallet today. And because Google Wallet is a mobile app, it will be able to do more than a regular wallet ever could, like storing thousands of payment cards and Google Offers but without the bulk. Eventually your loyalty cards, gift cards, receipts, boarding passes, tickets and even your keys will be seamlessly synced to your Google Wallet. And every offer and loyalty point will be redeemed automatically with a single tap on the phone against the reader.