Google yesterday announced an updated version of its Google Wallet service (Google Play link), bringing cloud support that allows users to use any card no matter what they're using to purchase. Google says that users' payment cards will now be stored on "highly secure" servers, rather than directly on the phone. A virtual card number (a.k.a. "Wallet ID") is kept on the secure storage area of the phone.
Today we’re releasing a new, cloud-based version of the Google Wallet app that supports all credit and debit cards from Visa, MasterCard, American Express, and Discover. Now, you can use any card when you shop in-store or online with Google Wallet. With the new version, you can also remotely disable your mobile wallet app from your Google Wallet account on the web.
In addition, Google now allows users to remotely disable their mobile wallet in the event that their phone is lost.